Jakarta-headquartered AI and big data analytics startup AiSensum has raised an unspecified amount in seed financing from 500 Startups via its Southeast Asia-focused 500 Durians II fund, it announced on Tuesday.
Launched in February 2018, AiSensum’s main revenue generator is an analytics platform that helps companies identify new revenue streams using their existing data.
The startup said that it has secured several partnerships in e-commerce, telecommunications, pharmaceuticals and finance sectors in Southeast Asia and its platform analyses over 45 million transactions for these customers.
“With the Internet revolution and e-commerce increasing at nearly 20% CAGR, industries like telecommunication, retail, pharmaceuticals, finance have become very dynamic and changes happen on a weekly basis. Traditional ways of conducting surveys to gather insights takes 2 to 3 months which isn’t effective to clients who want to take decisions based on current market dynamics,” said AiSensum chief analytics officer Nitin Sharma.
Khailee Ng, Managing Partner, 500 Startups. said: “We are now in the era of data warfare. The most valuable, proprietary data streams, and the most intelligent use of it will determine which business survives or thrives. AiSensum is at the nexus of this, not only by helping businesses gain new revenue engines with the latent data they have, but also provide decision makers with real time intelligence from sources never seen before.”
AiSensum’s competitors include traditional research houses such as Nielsen that build their business from old-world data.