India: Location intelligence platform GeoIQ raises funding from IP Ventures

Malaysian Ringgit. Photo: Reuters

Bengaluru-based location intelligence platform GeoIQ has raised an undisclosed amount of funding from IP Ventures, a Gurgaon-based venture capital fund that invests in early-to-mid stage startups.

GeoIQ allows firms to make critical business decision based on location intelligence or data points derived from geospatial information. It already has a client base of over 25 companies and startups across retail and logistics including Sanofi, Eko Financial, Bounce, Curefit among others.

Founded in 2018 by IIT-Kanpur graduates Devashish Fuloria, Tusheet Shrivastava, and Ankita Thakur, GeoIQ founders have a combined experience in tech startups and consulting firms. Since its inception, GeoIQ has built a repository of granular data from multiple sources and now claims to have granular demographic information on 500 million grids (100x100m) across India.

“The process of raising funds was rigorous, transparent, and most importantly from a founder’s perspective ultrafast as well. We intend to utilize the funds to hire tech team members, product development and focused marketing,” added GeoIQ’s chief data scientist co-founder Thakur.

Speaking on his investment in the startup, IP Ventures angel investor Rajeev Pandiya said that “In a slowing economy, this (GeoIQ) can be a competitive advantage for senior management trying to gain market share as well as get real-time accurate data to keep a check on sales teams’ expenditures justifying wasteful promotion schemes, incentives etc.”

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.