Indian data analytics start-up TargetingMantra raises $1.1 million in funding

Indian data analytics start-up TargetingMantra has closed a $1.1 million funding from 500Startups, Nexus Venture Partners and One97 Mobility Fund. The company's omni-channel personalisation suite analyses multiple data sources including user behaviour via web, iOS and Android to showcase the most relevant information and products to a user, thereby increasing revenues for e-commerce players.

With clients across India, South-East Asia, Brazil and USA, TargetingMantra plans to use the funding to continue developing its core offering and developing new products in the targeting space.

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Co-founder and CEO, Saurabh Nangia said, "Personalisation can drive up to 30 percent of revenues for e-commerce companies that do it well. Customers today face the problem of plenty with respect to the choices in online-purchase space. This results in customer fatigue and hampers buying decision. Showcasing only the most relevant products helps in fast purchase decisions and great customer experience."

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"Intelligent use of data is the future of everything online and mobile. An ability to customise product offerings, news and other information while protecting privacy is the holy grail of e-businesses worldwide," added Naren Gupta, Co-founder & MD, Nexus Venture Partners.

The Silicon Valley and New Delhi based company has RajanAnandan (MD, Google India), Ankur Warikoo (Head, Groupon Asia-Pacific) and Gaurav Agarwal (former Farmville MD) as advisors.