Data Science and analytics company Quantta Analytics, has raised undisclosed amount of funding from Anmol Nayyar and other entrepreneurs from India, the UK and the United States. The fund will be deployed to grow the team both in India and abroad, said the company statement.
Founded in 2014 by Ritesh and Malvika Bawri – Quantta Analytics uses neural networks and cutting edge machine learning combined with behavioural psychology to decipher and predict human behaviour.
Quantta’s patent pending data fusion technology is capable of understanding and interpreting dark data in real-time. Clients can connect their disparate data sources and understand their data almost instantly.
Quantta claims to build India’s first integrated data platform or protocol platform. It combines over 300 data streams to homogenise and standardise data from disparate data sources to build an integrated view of our world.
“Our data coverage currently includes 200 Cities and every village in India. Our analytics use this data pools to build a deep understanding of our country and consumer behaviour. It does this through the use of artificial Intelligence, and deep learning graphs. Our clients use our insights to drive efficiency and productivity in their respective business,”says Ritesh Bawri, co-founder, Quantta Analytics.
The company’s’ clients primarily hail from the BSFI, retail and consumer goods sector. For instance, a large micro finance company used Quantta’s work to determine their expansion and customer acquisition plans. It helped them identify the best markets at hyper-local levels to grow their business.
The team at Quantta comprises of mathematicians, PhD’s, statisticians and engineers from MIT, Harvard, University of Michigan, University of Maryland, IIT and ISI.
Quantta is in the process of setting up Quantta Labs in Silicon Valley. Founder Ritesh Bawri has been involved with data science since 1999 when his first company in Silicon Valley filed for patents in relation to monetizing ownership of personal data.
The use cases for the data that Quantta is compiling are abundant. Quantta has aggregated and organized significant data across India which when combined with their proprietary analytics has enabled them to provide custom solutions to their clients.
So far, Quantta has worked in sectors like microfinance, BFSI, retail, hospitality, food & beverages, logistics, energy, and healthcare. Some of Quantta’s clients include State Bank of India, Kotak, Fullerton, IDFC, Muthoot, Mannapuram, Ujjivan, Capital First, McDonald’s and Starbucks among others.
Quantta is building a protocol market for data to speak to each other. It’s therefore a market opportunity that is both global and scalable in its reach and breadth. “We estimate this market opportunity to be at least $1 trillion globally,” concludes Ritesh.