AI-based location intelligence company Data Sutram has raised USD 2.07 million in a funding round led by Varanium Capital and Yatra Angel Network. DMI Finance’s Sparkle Fund, Seeders LLP, White Ventures, IIFL Fintech Fund, and Indian Angel Network participated in the round. Earlier, Data Sutram raised an undisclosed amount from 100x.VC and Indian Angel Network.
The startup will use the fresh capital to expand its operations to South East Asia and the Middle East and will also invest in new data sources.
Data Sutram was founded by Rajit Bhattacharya, Aisik Paul and Ankit Das. The platform aggregates intelligence data on people and places from 250 partners. Data Sutram’s proprietary AI and ML-driven data engine converts unstructured data from sources like satellites, phones, mobile phones, etc to structured data.
With a strategic partnership with IIFL Finance and IIFL Securities, Data Sutram has entered the BFSI space. “After working extensively in retail manufacturing, Data Sutram is now eyeing the BFSI segment which is the intent behind the raise. After early success with several fintech, banks and NBFCs, we have found great applications of alternate data in – evaluating assets, predicting delinquencies, adjudging risk, recollection planning, among others,” said Rajit, founder and CEO of Data Sutram.