Data Analytics startup DataWeave has managed to raise an undisclosed amount of Series A funding from Japan-based ad-tech company FreakOut Group. Silicon Valley-based venture capital investor Herb Madan and a clutch of unnamed institutional investors from the US were also seen in the participation in funding round.
The Bangalore and Singapore-based startup was founded in April 2011 and came into operation in 2012. Karthik Ramesh Bettadapura and Vikranth Ramanolla are the C0-founders of the startup. DataWeave empowers strategic Decision making using data available in public domain by building data products using publicly available data on the Web. They also provide retail Intelligence product which provides real-time analytics at scale.
With the help of DataWeave’s real-time data and insights, clients can take decisions on pricing, assortment, and promotions quickly and confidently. Their brand analytics product provides brands with insights into how their brand is being projected online.
DataWeave also provides a comprehensive offering that includes Pricing Violation checks, Momentum Analytics to better understands assortments and demand indicators of their own brand as well as competitor brands, promotion analysis and Catalogue quality checks.
Karthik Bettadapura, co-founder and CEO, DataWeave said: “We have witnessed strong traction across all our target segments and geographies over the last year and a half, even in the highly competitive North America market. Customers choose us due to the actionability and scale of our insights and the simplicity of our solutions.”
Commenting on the investment, Yuzuru Honda, global CEO at FreakOut Holdings, Inc said, “DataWeave delivers real-time actionable insights, which provide businesses with a huge competitive advantage across industries and geographies.”
DataWeave currently serves customers in North America, India, Southeast Asia and the Middle East. The startup has also been a part of Nasscom’s Innotrek 2015 and Intech50 2015’s fourth batch.
The freshly raised funds will be used to boost the sales, marketing, and customer success initiatives, especially in North America. DetaWeave will also invest in scaling their data products. Read more about Indian Startup Ecosystem.