Bengaluru-based Clootrack Software Labs Pvt. Ltd has raised $500,000 (Rs 3.5 crore) in its seed round of funding, a top company executive told TechCircle.
The round was led by the Indian Angel Network. Other investors who took part in the round were Unicorn India Ventures, SEA Fund and Malabar Angel Network, the executive said.
Anthony Thomas, global CIO at Nissan Motors, and angel investor Salliel Gupta led the round on behalf of the IAN. Thomas will also get a board seat to represent the IAN.
Kris Gopalakrishnan, co-founder of Infosys, is also an investor from the IAN.
Unicorn India Ventures is the first institutional investor in Clootrack. It had invested in the company in 2017 as well.
"The company will use the fresh funds for product marketing and geographical expansion to the US, Europe and Southeast Asia," said Shameel Abdulla, co-founder of Clootrack, in a telephonic interaction with TechCircle.
Founded in April 2017, Clootrack is an AI-driven data analytics platform that discovers and measures brand perceptions in real time. Clootrack does this with proprietary deep learning and artificial intelligence algorithms based on proven mathematical models.
The Clootrack team consists of data scientists, programmers and industry experts of data and its impact on driving growth.
The B2B startup was founded by Shameel Abdulla and Subbakrishna Rao. Abdulla is a serial entrepreneur with 11 years of experience in technology, products, management and startups.
Before Clootrack, Abdulla was the co-founder of Jiffstore, a hyperlocal grocery delivery app till December 2015, when it was acquired by Peppertap. Prior to that, he was the co-founder and CEO of Kode Blink, a mobile app development firm. He ventured into entrepreneurship after dropping out from the Indian School of Business in 2012. Rao has around 14 years of experience in the IT sector.