BANGALORE: Intel Capital, the venture capital arm of world’s largest chip maker, has led a $16 million (Rs 94 crore) funding round in Bangalore-based big-data analytics startup Vizury.
Private equity firm Ascent Capital and existing investors Nokia Growth Partners and Inventus Capital Partners also participated in this third round of funding.
Vizury will use the funds for research and development and to scale up operations in markets such as China, Japan, Latin America, Middle East and Korea.
“We are also evaluating our options for entering the US market,” said Chetan Kulkarni, co founder and chief executive of Vizury. The six-year-old firm has now raised a total funding of $27 million (Rs 160 crore).
Vizury helps customers such as Virgin Airlines, Jet Airways and online retailers like Flipkart and Jabong analyse massive volumes of digital data on the web and mobile to target potential customers.
It’s big data platform, which runs across mobile and desktop, processes over 30 terabytes of data daily, including purchase intent data of nearly 500 million users.
The insights derived from this data are used by Vizury’s algorithms to process over five billion daily bid requests to engage users with highly personalised messages.
“Vizury understands how data and technology are shaping the consumer marketing and advertising industries and is emerging a leading player in this sector,” said Sudheer Kuppam, managing director, Intel Capital Asia Pacific region. “The investment will help Vizury take advantage of this big data opportunity.”
Vizury was among the first multi-national advertising-technology companies to enter China in 2009 where it now has strong advertiser relationships and a local team.
“Vizury is one of the most promising high-technology product companies to emerge out of India,” said Raja Kumar, managing director of Ascent Capital. “It has all ingredients to be a global leader in digital customer relationship management space.”
Global mobile advertising spending is forecast to reach $41.9 billion (Rs 2.48 lakh crore) by 2017, up from $18 billion (Rs 1 lakh crore) in 2014, according to research firm Gartner.
Vizury’s global competitor Criteo, the French ad technology company raised $250 million (Rs 1,483 crore) in an IPO on Nasdaq last October.