AI power analytics startup PredictiVu has announced it is raising $1.5 million in a Pre-Seed funding round led by Market Xcel Data Matrix, backed by Nomura Research Institute (Japan) and Infobridge Asia (Japan).
The Gurugram-based business-to-business tech company plans to use the capital for product development, bolstering its existing AI capabilities and diversifying the product line.
Kunal Sarkar, Vice President, PredictiVu, said,
“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 personalised, accurate real-time insights to our partners.”
“The pandemic has entirely altered consumer behaviour 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,” Kunal added.
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. Its flagship product, Dynamic Marketing Optimizer (DMO), is a centralised next-gen AI-powered data visualisation tool that can analyse data insights 90 percent faster. This is the first round of funding received post the product going into client Beta testing.
Raja Vishal Oberoi, CEO, Market Xcel, said,
“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.”
PredictiVu’s dashboard is connected to 75,000 retail touchpoints with a presence in 150+ Indian cities that keeps adding over two million unique consumer data points every month. Going forward, the startup 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.