Appeared on The Economic Times
BENGALURU: Singapore and Chennai-based big data company Crayon Data has received an undisclosed investment from InfosysBSE 3.06 % cofounder Senapathy (Kris) Gopalakrishnan.
The investment is part of Crayon’s Series A2 round of funding. Previous investors include Jungle Ventures, Tata Sons chairman emeritus Ratan Tata, Mitsui & Co, and a host of angels. The investment will be used to enhance Maya, its flagship product, and expand the firm’s global footprint.
Crayon’s banking clients run custom campaigns such as to activate dormant or inactive customers, to activate new category spends, and promotional campaigns. “Your traditional enterprise -bank, airlines -you have shopped with over the years, given them money, but, they still send irrelevant messages and offers all the time. What Crayon, and Maya does is we change the equation. We help them create ‘taste’ fingerprints,“ said Suresh Shankar, cofounder of Crayon Data.
Crayon works with banks and card issuers in Apac, Middle East and the US. It has patents like the TasteGraph, a unique map of the world’s tastes, with billions of data points on consumer lifestyles, and ChoiceAI, an algorithm that mixes internal enterprise behaviour data with external internet taste and social influence data sets.
“I see that the future of business will be the ability to leverage AI and big data to create ‘personal’ digital experiences for millions of customers. Crayon has a unique ability to bridge multiple worlds: analytics to digital, offline to online, internal, and external data. This makes them as critical to credit cards, travel and hospitalality, and retail enterprises,“ said Gopalakrishnan.
Infosys co-founder Kris Gopalakrishnan invests in big data startup Crayon Data [Business Standard]
Kris Gopalakrishnan invests in Ratan Tata-backed analytics startup Crayon Data [vccircle.com]
Infosys’ Kris Gopalakrishnan Invests in Big Data Startup Crayon Data [Business World]
Infosys co-founder Kris Gopalkrishnan invests in Crayon Data [Live Mint]
Big Data startup Crayon Data raises funding from Infosys co-founder Kris Gopalakrishnan [The News Minute]