The AI-powered data analytics startup, Monet Networks (1), secured 500,000 USD in a bridge funding round. SenseAI Ventures, a Gurugram headquartered VC firm, led the latest fundraise. As per the statement released by Monet, it would utilize the fresh infusions to create an AI-powered data analytics applications targeting online education, gaming, and related spaces.
Notably, Monet Networks is headquartered in the USD and has its technology center in India. It also has a patented technology that can capture the conscious and subconscious behavior of consumers. Consequently, it allows businesses to have a better understanding of the market.
The company has already extended its technology to its media industry clients, including Viacom CBS, MBC Universal, MTV, Warner Brothers, HBO Europe, and more.
Monet Networks to Offer Granular Insights to Content Creators of Media Industry
The technology of Monet Networks for the media segment can offer frame by frame granular insights of all levels to content creators. It can also recognize the audience cohort’s emotional picks for quick editing decisions, either negative or positive.
Anurag Bist, a serial entrepreneur, has founded the startup. He earlier also co-founded Vx-Tel, later acquired by Intel, for approximately 550 million USD.
While commenting on the latest investments, the Managing Partner of SenseAi, Rahul Agarwalla, stated that the team is excited to collaborate with Monet Networks. We would jointly work to revolutionize customer insights and offer personalized education, TV, OTT, politics, and more.
As per Rahul, the patented technology in video analytics of the startup is a product. It fits the market relevantly, especially in the current time where watching and communicating via video has become the new normal.
SenseAI Ventures focuses primarily on AI-based early-stage startups. Their portfolio includes companies across India and the US, such as Cureskin, Jovian, Tripeur, Niveshi, Vernacular, etc.
The government of India is also keen on AI forward as the next frontier of technology. Our honorable PM, Narendra Modi, has even aspired to make new India a global leader in AI by digital revolution at the RAISE 2020 summit.