Mumbai-based big data analytics firm Germin8 has raised $3 million in Series A funding from Kalaari Capital. The company will be using this investment to improve its domestic sales & marketing initiatives and expand overseas. It will also be using this investment for developing new products and for research & development.
Germin8 has developed a product called Explic8 which helps brands analyse conversation aggregated from public sources like social media & news sites and company-owned sources like emails & chats in real-time and convert them into leads. It also offers services like campaign analytics, industry and competitive analysis, category research reports and customer management services. Besides this, it allows brands to conduct influencer engagement campaigns. [Video Demo]
It also has tie-ups with branding, market research, analytics & consulting companies like Avalon Consulting, Avalon Global Research, WPP’s Landor Associates and Ugam solutions to offer custom solutions to brands.
The company was founded in 2007 by the father and son duo Raj Nair & Ranjit Nair and has clients like ICICI Prudential, Airtel, MTV, Godrej, Cadbury’s, Johnson & Johnson, Marico, Asian Paints and Bajaj Allianz among others. The company also mentions that its technology is being used by several media and advertising agencies like GroupM, Publicis, Dentsu Aegis, Rediffusion and Ormax Media.
Other Investments in Big Data & Social Media analytics sector
Yesterday, Big data company Indix had also raised $8.5 million from Avalon Ventures and Nexus Venture Partners. Earlier this year, MasterCard Advisors, a division of MasterCard had also acquired an undisclosed stake in Mu Sigma, an analytics and decision sciences firm.
Social media analytics startup Parakweet had also raised $2 million investment from a series of angel investors in June 2013 while data analytics and personalization services based startup iKen Solutions had raised an undisclosed amount of funding from India Innovation Fund in August 2012.
Inventus Capital Partners & Nexus Venture Partners backed Salorix also offered social media marketing and analytics solutions, however the company reportedly shut shop in May 2013.