Data analytics company, DataWeave has raised Rs 1.5 crores in seed round from Blume Ventures, TLabs (Times Internet*), 5ideas Startup Superfuel, Meta Studio Advisors and a group of angels: Rajan Anandan, Pankaj Jain, Bharathram Thothadri, Krishna Mehra and Abhishek Gupta, reports iamwire. Speaking to MediaNama, Karthik Ramesh, Co-Founder, DataWeave said that the funds will be used to expand their technology & business development teams, infrastructure and to also conduct market experiments.
DataWeave had previously joined TLabs in February 2012 and had also raised funding. Started in 2011 by Karthik Ramesh & Vikranth Ramanolla, DataWeave provides data analysis through APIs, dashboards, alerts and visualizations The APIs on its website include coupon, telecom data, universal product code data, Lok Sabha election results, India trade, earthquake data APIs, among others.
Its services are targeted at ecommerce companies, OTAs, app developers, market research companies, data driven companies, content driven companies, among others. At the time of writing this article, the company offered first 1000 API calls per month free of cost for its Dataweave service clients. Beyond 1000 API calls, clients are charged based on the call slab that they choose. The per call charge falls with increase in the number of API calls.
Ramesh also said that PriceWeave, their competitive intelligence product for e-retailers, brands, and manufacturers contributes to maximum revenue for the company. According to the company, PriceWeave has been built on top of products data to provide features such as pricing opportunities, assortment intelligence, reporting & analytics, tracking promotions, among others to clients. The company claims that PriceWeave is powered by distributed data crawling and processing engines to serve data points around products on a daily basis. This data is presented through dashboards, notifications, and reports. PriceWeave services are available in 5 packages including free trial (15 days) package, small for Rs 8,500, medium for Rs 22,950, large for Rs 34,000 and an extra large package.
Their clients include Rediff, Indiatimes Shopping, Puma, eBay, PlayGroundOnline, UrbanJourney, Jabong, OfficeYes, Paytm, Freecharge and Zigwheels. The company claims to aggregates and processes more than 100GB a day, serving around 500 million data points.
*Disclosure: Times Internet is an advertiser with MediaNama