User Data Storage Startup 'Medront' lifts Rs.1.06 crore in Pre-Seed round
In an Inflection Point Ventures-led Pre-seed round, user data storage startup, Medront successfully raised Rs.1.06 crore.
The funds will be put toward product development, expansion efforts, user acquisition, onboarding DAAS clients, and other expenses to guarantee effective user acquisition and retention.
Established in the year 2023 by Nitesh Singh and Saurav Suman, Medront Datalabs engages clients with command over their own information through imaginative data pods, offering brands an option in contrast to the syndications of tech giants.
The startup claims to have partnered with 20 brands and gained over 20,000 users.
Medront's strengths include extensive API integrations with major platforms like Twitter, YouTube, Facebook, Instagram, Reddit, Spotify, Gmail, Google Drive, and Evernote, with its current focus being user acquisition in India.
Medront also offers Android permissions, SMS, and notification verification. Medront, which was started by PIEDS (BITS Pilani), also has G2 certification for advertising financial services, putting it in a good position to grow in the future.
Data as a Service (DaaS) is expected to grow from $20.74 billion in 2024 to $51.60 billion in 2029, according to market research.
The market is expected to reach $2.17 billion in India by 2024.
Regarding the fund raise, Vikram Ramasubramanian, Partner at IPV says, “With the digital world expanding rapidly, securing personal data is more crucial than ever. In this context, Medront emerges as a comprehensive platform that empowers consumers by giving them real ownership of their data”.
Ramasubramanian states, "In this context, Medront emerges as a comprehensive platform that empowers consumers by giving them real ownership of their data, allowing them to manage their web browsing, music, finances, food choices, interests, and social media —all from one secure platform. Inflection Point Ventures (IPV) recognizes that digital privacy tools are going to be the next big thing in the tech landscape, which is why we decided to invest in Medront”.
The funds will be put toward product development, expansion efforts, user acquisition, onboarding DAAS clients, and other expenses to guarantee effective user acquisition and retention.
Established in the year 2023 by Nitesh Singh and Saurav Suman, Medront Datalabs engages clients with command over their own information through imaginative data pods, offering brands an option in contrast to the syndications of tech giants.
The startup claims to have partnered with 20 brands and gained over 20,000 users.
Medront's strengths include extensive API integrations with major platforms like Twitter, YouTube, Facebook, Instagram, Reddit, Spotify, Gmail, Google Drive, and Evernote, with its current focus being user acquisition in India.
Medront also offers Android permissions, SMS, and notification verification. Medront, which was started by PIEDS (BITS Pilani), also has G2 certification for advertising financial services, putting it in a good position to grow in the future.
Data as a Service (DaaS) is expected to grow from $20.74 billion in 2024 to $51.60 billion in 2029, according to market research.
The market is expected to reach $2.17 billion in India by 2024.
Regarding the fund raise, Vikram Ramasubramanian, Partner at IPV says, “With the digital world expanding rapidly, securing personal data is more crucial than ever. In this context, Medront emerges as a comprehensive platform that empowers consumers by giving them real ownership of their data”.
Ramasubramanian states, "In this context, Medront emerges as a comprehensive platform that empowers consumers by giving them real ownership of their data, allowing them to manage their web browsing, music, finances, food choices, interests, and social media —all from one secure platform. Inflection Point Ventures (IPV) recognizes that digital privacy tools are going to be the next big thing in the tech landscape, which is why we decided to invest in Medront”.
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