Singapore headquartered analytics startup Crayon Data has entered the Indian market via an alliance with GroupM owned media planning and buying agency, Mindshare.
Only last week Tata Sons chairman emeritus Ratan Tata had invested an undisclosed amount in the data analytics firm.
“GroupM is changing the way marketers approach the business of media. Together with the WPP data alliance, bringing the Crayon Data proposition to India reflects our ambition to know more deeply than anyone else the tastes of Indian consumers and use that to help our clients target them better,†says CVL Srinivas, India CEO, GroupM Media India Pvt Ltd in a statement.
Together, Mindshare and Crayon Data aim to track and map the behavioural habits of Indian consumers, which will allow brand owners to target consumers more precisely. Crayon Data has built a proprietary big data platform called SimplerChoices that allows it to ingest, curate and algorithmically predict personalised preferences of Indian consumers.
The startup has also developed a global 'consumer taste graph', which maps choices across 15 categories, using machine learning and complex algorithms. This taste graph is then mapped to internal (enterprise) and external (online and social) data sets to generate a unique taste fingerprint of each consumer. This taste fingerprint, in turn, allows it to provide a set of highly personalised choices, to consumers of its enterprise clients.
“As life goes digital, and choices proliferate in every aspect of our life, we will move to a world centred around personalisation, where companies understand tastes and preferences at an individual level, and use that to make choices simple and relevant for their consumers,†said Suresh Shankar, founder, Crayon Data Pte Ltd.
Founded in 2012 by Suresh Shankar and Srikant Sastri, Crayon Data is headquartered in Singapore with a development centre in Chennai. The startup is a portfolio company of Jungle Ventures. The startup has previously raised 10 million Singapore dollars in seed and Series A funding from investors such as Jungle Ventures and Spring Seeds.