VTION, a SaaS-based platform which is a media analytics startup has raised an amount of $280,000 (Rs 1.92 crore) in a funding round led by AngelList India, the local arm of US-based investment crowdfunding platform AngelList.
The funding round also saw the participation of investors including Rahul Khanna (Trifecta Capital), Rajeev Arora (Paramount Wheels), and Ram Ramsundar (Electrolux former CEO), among others. Along with the stated investors, Angels in Stockholm, Dubai, and the US also participated in VTION’s recent funding round.
“Manoj is a great example of a domain expert who has leveraged his global network to solve a grave problem in the radio and audio media analytics space. I’m really excited to have led the Syndicate from AngelList and to be a part of the early growth story of VTION,” said Prakhar Agarwal, Investments Lead, AngelList India.
The company is planning to use these funds in the expansion of its product line in the Indian market and abroad. Along with this, a part of funds so raised will also be utilized to recruit its next level team, patent applications in selected countries, and also to expand its product roadmap into adjacent digital areas.
VTION is a Gurugram and Mumbai-headquartered platform founded in 2016 by Manoj Dawane and Rajshree Dave. The company basically focuses on media consumption measurement techniques and audio analytics.
“Methods used for audience measurement of radio programs are conventional like recall-based diaries. Usage of audio from music streaming apps are not currently measured by a third party and are largely focused on downloads, MAU and DAU. VTION has a patent pending technology that can address these challenges for measuring audiences on radio and audio,” Dawane stated.
“Hence, there is a need to get fair estimates of audiences & listenership, such that advertisers can target their media plans and broadcasters can have sharper programming insights,” he added.
VTION claims to have had successful trials and validations of the technology internationally with global research agencies over the last two quarters. Therefore, this funding round by VTION seems to mark the global appeal of products and services emerging from India.