Bengaluru-based adaptive market intelligence platform Clootrack has raised ₹3.5 crores in seed funding from Indian Angel Network, IAN Fund, Unicorn India Ventures, SEA Fund and Malabar Angel Network. The IAN investor group included Anthony Thomas, Global CIO of Nissan Motors, Salliel Gupta and Kris Gopalakrishnan (Co-founder of Infosys).
Following the development, Anthony will be joining the board of directors of Clootrack. Founded by Subbakrishna Rao and Shameel Abdulla in 2007, Clootrack is one of its kind AI-driven data analytics platform. It uses machine learning and AI to discover and measure brand perceptions in real time by analyzing customer conversations in various online media and customer care tickets.
Co-founder and CEO Shameel said, “We are glad to have kept our burn ratio low and built the business where healthy traction, better algorithms and deeper use of Machine Learning is showing near real-time results to our customers.”
The startup uses proprietary deep learning algorithms based on proven mathematical models. It has two pending patents in its name. One of the co-founder Shameel is an ISB dropout and holds two patents. He earlier founded Jiffstore which was later acquired by PepperTap. He also co-founded Kode Blink, a mobile app company.
Anthony Thomas said, “Understanding customers fast is key in today’s rapidly changing markets. Clootrack depicts a unique combination of making this happen with superior technology and rapid adoption in enterprises with smart go to market.”
The startup currently operates under a SaaS model and provide services to industries in six sectors including FMCG, retail, travel, automotive, pharma and finance. It currently works with 150 enterprises including several Fortune 500 companies. Clootrack claims that it has analyzed more than 10 billion conversations and extracted 1 million data insights.