Data analytics startup Tookitaki has raised $1 million in seed funding led by Jungle Ventures, with participation from existing investor Blume Ventures and and new investor Rebright Partners, reports TechCrunch. The startup will use the funds to expand to newer markets like Australia, New Zealand, Japan and Southeast Asia and invest in research & development.
Tookitaki had earlier raised $200,000 from Blume Ventures, India Internet Group, Harvard Angels and Centre for Innovation Incubation Entrepreneurship (CIIE) Ahmedabad in August 2013.
The company also seems to now have expanded its offerings to offer data analytics services like mobile targeting, sales strategies, and inventory along with consumer behaviou predictions across verticals. Prior to this, it offered social targeting and ad optimization, that worked by querying data points from social media networks like Facebook, Twitter, YouTube, among others to find purchasing patterns of consumers on the web.
Based on this data, consumers were grouped to map behavioural patterns in real-time using machine learning techniques, to deliver targeted ads on different online platforms. The company now claims to be working on a platform that predicts how consumers find out about specific brands or products.
Founded in 2010 by Abhishek Chatterjee and Jeeta Bandopadhyay, Tookitaki claims to have clients like Sunsilk, Biba, Yatra.com, Paytm, Quikr and Ford among others.
Other investments and acquisitions in the Data Analytics
– Big data company Indix had raised $8.5M from Avalon and Nexus in March last year, while Mumbai based big data analytics firm Germin8 had secured $3M in funding from Kalaari Capital in the same month.
– Tech Mahindra had acquired 75% stake in the big data analytics company Fix Stream Networks Inc (FSNI) for $10 million in April last year.
– Hyderabad based information technology company Cyient Limited had also acquired a majority stake in data sciences firm Invati Insights Pvt Ltd in August 2014, following which Invati was renamed to Cyient Insights.