Software-as-a-service (Saas)-based data analytics startup Vtion Digital Analytics has raised $1.3 million in a fresh funding round led by Gurgaon-based YourNest Venture Capital.

It plans to use the funds to accelerate its India growth by scaling its advertising activation strategy and panel enhancement while driving global market expansion. Founded in 2018 by Manoj Dawane, Vtion provides real-time analytics data and media consumption measurement techniques for broadcast radio, bringing together various stakeholders of the ecosystem.

“Vtion platform generates more than 20 million unique events every day and is used by marquee brands in India for sharper segmentation and efficient message delivery,” Dawane said in a statement on Wednesday.

Vtion plans to increase its market share in the consumer behaviour intelligence & programmatic activation space, Dawane added. The brand has offerings for companies across industries such as fast-moving consumer goods (FMCG), ecommerce, travel, education, fintech, finance and real estate. It had raised $750,000 in two seed rounds $500,000 from angel investors in India and investors from Sweden, US and Dubai, and $250,000 from Mumbai-based Core 91 VC.

“We find tremendous potential in Vtion, with its privacy-first and strong patent-protected technology stack, especially in the cookie-less world, and firmly believe that the platform will be able to corner a disproportionate share of the digital advertising activation market within the next five years,” said Girish Shivani, executive director and fund manager, YourNest Venture Capital.