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Medront raises pre-seed round led by IPV

Entrackr · 2m

User data storage startup Medront has raised Rs 1.06 crore in its pre-seed round led by Inflection Point Ventures. The proceeds will be used in product development, growth efforts, user acquisition, onboarding DAAS clients, and miscellaneous expenses, ensuring efficient user acquisition and strong retention. Founded in 2023 by Nitesh Singh and Saurav Suman, Medront Datalabs empowers users with control over their personal data through innovative data pods, offering brands an alternative to the monopolies of tech giants. The startup claims to have gained over 20,000 users and partnered with 20 brands. Currently focused on user acquisition in India, Medront’s strengths include extensive API integrations with major platforms like Twitter, YouTube, Facebook, Instagram, Reddit, Spotify, Gmail, Google Drive, and Evernote. Additionally, Medront provides Android verification for notifications, SMS, and permissions. Incubated by PIEDS (BITS Pilani), Medront also holds G2 verification for advertising financial services, positioning itself for future growth. According to market research, the global Data as a Service (DaaS) market, valued at $20.74 billion in 2024, is expected to grow to $51.60 billion by 2029. In India, the market is projected to reach $2.17 billion in 2024.