IP Ventures backs AI-driven data platform Resonance

Gurugram-based artificial intelligence (AI)-driven enterprise data platform Resonance Data Management has raised an undisclosed amount in angel funding from Inflection Point (IP) Ventures. 

The startup intends to use the funds to recruit more engineers and expand its sales presence in international markets, said a statement issued by IP Ventures. 

Resonance has developed data mining solutions like its flagship product Rene, which captures and analyses sales and client data. The solution is capable of analysing unstructured data available in customer relationship management (CRM) systems and emails. 

The startup has already roped in clients in the US and south-east Asian markets, the statement said.

Resonance was founded in 2017 by Shishir Kapoor and Rantej Singh. While Kapoor had worked at analytics platform Opera Solutions, Singh had worked with Thomson Reuters.

"IPV not only carried out a deep due-diligence of our business but also provided us with detailed feedback from senior industry leaders, which greatly helped us in focusing on our strengths and addressing the gaps. IPV has opened many business development opportunities through its networking events," said Kapoor and Singh.

IP Ventures was founded in 2017 by CXO Genie, a platform floated by chief financial officers. Among the partners at IP Ventures are Mitesh Shah, the former chief financial officer at BookMyShow and Sumeet Kapur, founder of healthtech platform WellCure.com. 

IP Ventures’ earlier investments

AI-driven healthtech platform Leben Care Technologies raised an undisclosed amount from IP Ventures. The startup had said it would leverage the funds to strengthen sales and marketing teams while further building on its product. 

Intugine Technologies, a Bengaluru-based logistics and supply-chain management platform, raised funding from IP Ventures to bolster operations and make additions to its sales team. 

IP Ventures has invested in internet of things solutions platform Syook. The funds will be leveraged by the startup to expand to markets in the Middle East and South-east Asia.