PredictiVu Raises $1.5 Mn Pre-Seed From Market Xcel, Nomura And Infobridge Asia The company plans to use the capital for product development, bolstering its existing AI capabilities and diversifying their product line
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Gurugram-based analytics startupPredictiVu, on Monday, announced raising $1.5million in a pre-seed funding round led by Market Xcel Data Matrix, backed by Nomura Research Institute (Japan) and Infobridge Asia (Japan).
The business-to-business (B2B) tech company plans to use the capital for product development, bolstering their existing AI capabilities and diversifying its product line.
"We are extremely glad to have such a stellar set of investors back us up on our mission. This will help us to add more AI/ML capabilities into our product line and provide personalized, accurate real-time insights to our partners. The pandemic has entirely altered consumer behavior and has accelerated the need to track insights faster for the hypercompetitive offline smartphone retail market. We will continue to take a unique discovery approach and make BI insights delivery seamless for brands, retailers, and marketers. With new mergers and key smartphone players eyeing to double their offline presence, offline retail will dominate smartphone sales in the coming months and marketers will seek closer and in-depth insights to tap its intrinsic growth potential. We will be betting big on that," said Kunal Sarkar, vice president, PredictiVu.
PredictiVu addresses the incumbent data latency and data silos challenges of marketing to deliver near-real-time business intelligence insights to marketing leaders 10 times faster than conventional methods. Their flagship product, Dynamic Marketing Optimizer (DMO), is a centralized next-gen AI-powered data visualization tool that can analyze data insights 90 per cent faster. This is the first round of funding received post the product going into client Beta testing.
"Our confidence in PredictiVu emanates from their impressive and unique product solutions, approach, and offering capabilities. There is a latent need for such near real-time multi-dimensional data mapping using AI/ML modules in marketing and PredictiVu's perfect blend of concepts, experience in delivering BI insights and outcome-driven approach makes them extremely suited to lead India's next level data interpretation need. We are delighted to associate ourselves in their journey of addressing the untapped need-gap for the marketers and make their mark in the growing data analytics segment," shared Raja Vishal Oberoi, chief executive officer, Market Xcel.
PredictiVu's dashboard is connected to 75,000 retail touchpoints with a presence in more than 150 Indian cities that keeps adding over 2 million unique consumer data points every month. Going forward, PredictiVu team aims to diversify focus and deliver near-real-time BI insights on India's retail market which is projected to reach $1.3 trillion by 2024.
