Delhi based Wifi analytics startup i2e1 (Information to Everyone) raised a Series-A funding of $3 million from philanthropic investment firm Omidyar Network on Wednesday.
The round also saw participation from US-based Auxano Ventures, early stage investment firm 3one4 Capital and some of its existing investors. The fresh funds will be used to scale up the existing operations and launch a mobile application.
“Using data collected from user sign-ins at brick and mortar establishments, i2e1 creates an analytics intelligence suite similar to Google Analytics, tailored for offline businesses. This strengthens defensibility for offline retailers in comparison to their online counterparts who collate real-time intelligence on their users,” the statement said.
Founded by IITD alumni Satyam Darmora, Nishit Aggarwal, Gaurav Bansal, Maanas Dwivedi, Ashutosh Mishra, and Anugrah Adams in 2015, the big data analytics startup i2e1 provides an AI-based platform that enables Internet access on various wireless devices to businesses and end-users in India.
While incubated at IIT Delhi, the startup earlier raised a seed funding of $500K from Mohandas Pai and GrowX Ventures.
“Given the steep growth in smartphones and soaring data consumption, the government’s push towards Digital India, and favourable regulatory changes, i2e1 has the potential to become the de-facto gateway to the internet for millions, empowering offline retailers with rich user insights and smarter decision making,” said Siddharth Nautiyal, investment partner at Omidyar Network.