VTION, a technology innovation firm, has raised $280,000 through AngelList India. Angel investors like Rahul Khanna of Trifecta Capital, Rajeev Arora of Paramount Wheels and former CEO of Electrolux Ram Ramsundar have participated in the funding round, among others.
The startup will be utilising the funds for taking the product line to the Indian market, recruiting, patent applications in select countries and enhancing product road map into adjacent digital areas.
VTION, launched in 2016, focuses on media consumption measurement techniques and audio analytics. The company is founded by Manoj Dawane (CEO, Mauj Mobile) and with Rajshree Dave (formerly of Nielsen South Asia) leading the research and analytics function.
The round has also seen investment from angels in Stockholm, Dubai and the US. Broadcast radio and audio streaming are growing leaps and bounds in India. Both verticals are based on advertising revenue as primary contributor as of now. Hence, there is a need to get fair estimates of audiences and listenership, such that advertisers can target their media plans and broadcasters can have sharper programming insights, said Manoj Dawane, founder, VTION.
He said VTION has a patent pending technology that can address these challenges for measuring audiences on radio and audio.
The company launched its product suite with an SDK/App combination along with real-time analytics dashboard in January 2018. They have had successful trials and validations of the tech over the past two quarters.