[Funding alert] Kolkata-based tech startup Data Sutram raises Rs 2 Cr from Indian Angel Network
Kolkata-based early-stage tech startuphas raised funding of Rs 2 crore from Indian Angel Network (IAN) angels Uday Sodhi, Mitesh Shah, and Nitin Jain.
Uday Sodhi, Lead Investor at IAN, said, “It is heartening to see startups such as Data Sutram using cutting-edge technology, tapping unstructured data and insight to create innovative solutions for the B2B market. Its unique, tech-led approach is solving some of the most pressing problems for a large consumer base by developing a predictive analytics solution to help bridge the demand-supply gap.”
Founded in 2018 by three Jadavpur University engineering graduates Rajit Bhattacharya, Aisik Paul, and Ankit Das, Data Sutram is an AI-backed platform that gathers intel from external data to provide location-based data intelligence.
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According to the startup, there is a massive availability of valuable insights that lie in the form of unstructured data from multiple resources. These data need to be processed, cleaned, geotagged, and converted into usable data, that can be readily utilised by a business.
Data Sutram aims to resolve this problem as it uncovers raw data sources and calculates socio-economic parameters like demography, ethnicity, affluence, spending capacity, and a host of other parameters to understand a location.
The B2B-focussed startup claims that it helps a business by pinpointing new locations to expand, improving the performance of existing assets (both physical and digital), and micro-targeting the right audience for the product. Starting at 12 data sources, the engine currently taps into over 200+ data sources in a span of six months to garner intelligence.
Rajit Bhattacharya, Co-founder, Data Sutram, said, “We are delighted to get IAN on board as an investor, and will leverage the capital infusion to strengthen our platform in providing enhanced services to our consumers.”
At present, the startup is focussed on retail-specific sectors such as pharmacy, FMCG, and grocery, with plans of expansion into the BFSI, agritech, and media and entertainment in the future.
Earlier this year, Data Sutram was part of 100X VC’s first class of 20 companies. It raised Rs 25 lakh from 100X.VC.