Tookitaki raises $1m seed funding led by Jungle Ventures

Visual from Tookitaki Homepage

India-based data intelligence startup Tookitaki has raised $1 million seed funding, in a round  led by Singapore’s Jungle Ventures. The round was joined by Japan- Singapore based Rebright Partners and existing investor Blume Ventures.

The company, headquartered in Singapore, will use the funds to extend product R&D, expand operations in South East Asia, Japan, Australia and New Zealand, Japan markets for SaaS (software as a service) platform.

Tookitaki, a social targeting and ad optimisation platform, started by Abhishek Chatterjee and Jeeta Bandhopadhyay in 2013, had raised funds thrice prior to this round of funding.

The previous round was in July when it raised $200,000 from a group of investors including Blume Ventures, India Internet Group, Harvard Angels and Centre for Innovation Incubation and Entrepreneurship (CIIE) Ahmadabad.

Jungle Ventures, which is currently raising its second investment vehicle and seeking to tap opportunities in the fast growing tech and consumer sector in the region, has led funding and expansion rounds of several India based marketing and analytics ventures including, Pokkt, Zipdial, Mobikon and CrayonData.

Tookitaki says it has been building a consumer insights platform that answers key decisions related to product sales, market share, customer growth, relevant consumer behavior for an enterprise. The company added that its clientele spans across e-commerce, travel, classifieds, automobiles and consumer goods.

Tookitaki had won the Facebook Ads API Hackathon in October 2013.

“We started as an ad tech platform, where we used predictive models on publicly available data to detect attribute that drive consumers to make purchase from paid ads on social and digital,” said, Tookitaki founder and chief executive Abhishek Chatterjee.

He added, “In course of time, we realised that public content is one such data set to build 360 degree consumer behavior mapping; hence the evolution to multi datasets to forecast time-based consumer insights impacting marketing, sales and operations of an enterprise”.

Jungle Venture’s is among the youngest VC firms in Singapore and its portfolio now includes 25 startups from five sectors and seven countries across South-east Asia and the US.

Prior to Tookitaki, Jungle’s most recent India linked investment was in November 2014, when it led a $400,000 funding round in Bangalore-based Scrollback, a startup building free open-source chat platform for online communities

“We are excited about the potential of Tookitaki’s offering in the marketing & data analytics space. Consumer behavior forecasting is important in responding to strategic and tactical business decisions especially in marketing and sales where enterprises are always looking for new technology to help them better target and engage their customers. Tookitaki has a strong technology proposition and we look forward to helping them rapidly expand their market footprint across other markets” said Amit Anand, managing partner, Jungle Ventures

In 2013, Tookitaki had reportedly raised seed funding twice. It first raised around Rs 12 lac from from Srijan Capital; Aakrit Vaish, director of Flurry Inc; Miten Sampat, VP (product strategy) at Neustar; Anuj Pulstya, member of the Indian Angel Network; Maneesh Bhandari, investor director at Framebench; Anand Ladsariya, owner of Everest Flavours, and Nitin Agarwal, owner of NM Fashions, according to a report in DealCurry.

In April the same year, it raised additional funding from Anirudh Suri, Ravi Gururaj and Ramesh Kumar Shah at Startup Roots, an initiative under the Nasscom 10,000 Startups programme, the DealCurry report added.

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.