Data analytics startup Quantta Analytics is in the news for securing an undisclosed amount of funding in the Pre-Series A round. The funding will be used to strengthen the core technology team and set up a centre in San Francisco. Founded by repeat entrepreneur Ritesh Bawri in 2014, Quantta Analytics is not his first venture. In 1999, Bawri founded Cijen Inc in the US, only to shut it down after three years of operation. According to Bawri, India admittedly is a tough market to crack.
“I understand that India is a difficult market. The whole premise of building Quantta Analytics in India was the belief that India’s data should remain in India only. At the moment, our country’s data is travelling to all parts of the world. And we wanted to build something that can help keep the data inside the country,” he said reportedly.
With over 100+ clients across various domains, such as BFSI, healthcare, retail, logistics, energy with big names such as SBI, Kotak Mahindra, Muthoot Finance, IDFC, Starbucks. Talking about the idea of founding the startup, Bawri said, “The whole idea was to develop a data science and analytics-based tech stack that can help businesses in taking day-to-day strategic decisions based on human behavior”.
The startup provides capabilities in three areas: a) data fusion; b) analytics; c) marketing. The startup’s solutions range from personalization, customer behavior, product optimization and location analytics. Some of their use cases range from identifying the potential location for ATM for SBI to drumming up sales and marketing insights as to what to sell and where to sell.
According to Bawri, the real need for analytics lies at the micro-level, not macro level that major IT vendors such as SAP and Accenture target. “I believe the opportunity lies at a real micro level – within a radius of 500 sq.mt., in any place and in any Indian city,” said Bawri.
Try deep learning using MATLAB