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Exclusive: Data Sutram to raise $10-12 Mn led by Lightspeed and B Capital

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Exclusive: Data Sutram to raise $10-12 Mn led by Lightspeed and B Capital B2B SaaS company Data Sutram is in advanced stages of securing $10-12 million in a new funding round, according to sources familiar with the development. The new round is coming within 15 months for the Mumbai-based startup. “Lightspeed Venture Partners and B Capital are leading the new round in Data Sutram as the deal is expected to close soon,” said one of the sources. “Existing investors will also participate.” Founded in 2018 by Rajit Bhattacharya, Aisik Paul, and Ankit Das, Data Sutram’s proprietary AI and ML-driven data engine automatically converts raw unstructured data from satellites, mobile phones, POS machines, and several other sources. Its product suite—Find, Authenticate, and Grow—has gained significant traction among major banks, NBFCs, and fintechs worldwide. The company asserts that its data insights drive a 3X boost in sales, reduce fraud cases by 45%, and enhance customer lifetime value (CLTV) by 1.5X. In September 2023, Data Sutram secured $3 million in funding, led by Singularity Growth Fund and other investors. Earlier, in February 2022, the company raised $2.07 million in a funding round spearheaded by Varanium Capital and Yatra Angel Network. As per sources, Data Sutram is looking for a valuation of $60-70 million (post money). Queries sent to Data Sutram, Lightspeed and B Capital remained unanswered until publication of the story. For the fiscal year ended in March 2024 (FY24), Data Sutram reported Rs 5.6 crore in revenue with a loss of Rs 10.8 crore.