IIFL Fintech Fund, one of India’s largest early-stage investors in fintech space today said that it has made an investment in Kolkata-based AI startup - Data Sutram for an undisclosed amount.

Data Sutram is an AI-backed location intelligence data platform that aggregates data from 250+ partners to provide intelligence on places and people. The firm was started in 2018 by three Jadavpur University engineering graduates, Rajit Bhattacharya, Aisik Paul, and Ankit Das.

Earlier, Data Sutram had been invested in by 100X.VC (as a part of their Class 01) & Indian Angel Network. Ninad Karpe, Partner, 100X.VC said “We are delighted that Data Sutram is on a path to offer their world-class data solutions to the BFSI sector -- banks, fintechs and NBFCs. In a hyper competitive world, solutions from Data Sutram will help companies in the BFSI sector to maintain their leadership position. As the first institutional investor in Data Sutram, 100X is confident that Data Sutram will become a global leader in its space in times to come.”

The geospatial data and analytics market is one of the fastest growing markets in the world, and is poised to become worth $157 billion by 2027. By 2022, it is expected that 30% of customer interactions will be influenced by real-time location analysis, up from 4% in 2017, as per a Gartner report.

Read the full article here- AI Startup Data Sutram Raises Undisclosed Funding