AI startup Data Sutram raises $2.07 mn in funding round led by Varanium Capital, Yatra Angel Network

Location intelligence startup Data Sutram has announced a $2.07 million in a funding round led by Varanium Capital and Yatra Angel Network. The round also saw participation from DMI Finance’s Sparkle Fund, White Ventures, Seeders LLP, and existing investors: IIFL Fintech Fund and Indian Angel Network.

The company had earlier also raised funds from 100xVC, Indian Angel Network, and IIFL Fintech Fund.

Founded in 2018, Data Sutram was founded by engineers from Jadavpur University - Rajit Bhattacharya, Aisik Paul, and Ankit Das - to make actionable insights readily available for every address in India. The proprietary AI and ML-driven data engine automatically converts raw unstructured data from satellites, mobile phones, POS machines, and several other sources to create insights that capture how people live and behave, available for any location upto 100 million granularity.

Rajit Bhattacharya, Co-founder, and CEO, Data Sutram said, “With Data Sutram, the idea is to create actionable data that people can act on & take decisions that give an incremental lift to business operations”

Aparajit Bhandarkar, Partner, Varanium NexGen Fund, said, “The insurance, lending and banking sectors have been showing significant shifts in the last decade. This brings in a growing need for fintech and traditional companies to use alternative intelligence and enhance customer acquisition, credit underwriting, and distribution planning. Data Sutram is addressing these challenges and is playing an active role in bridging this gap.”

What does startup do?

Data Sutram provides sector-focused data packages that help companies acquire customers, understand the credit risk at an address level, open ATMs, branches, stores, plan resources, do competitor benchmarking and enhance their overall growth strategy.

To scale-up post-funding

Post-this round, the startup is looking to scale its operations beyond India to South-East Asia and the Middle East and further invest in new data sources.

Published on: Wednesday, February 16, 2022, 09:38 AM IST