Data storage startup Medront raised Rs 1.06 Cr Pre-seed funding from IPV
The pre-seed round of user data storage startup Medront, led by Inflection Point Ventures, has raised Rs 1.06 crore.
To ensure effective user acquisition and high retention, the funds will be utilized for product development, growth initiatives, user acquisition, onboarding DAAS clients, and other costs.
Using cutting-edge data pods, Medront Datalabs, founded in 2023 by Nitesh Singh and Saurav Suman, gives consumers autonomy over their personal data and gives brands an alternative to the monopolies of tech giants. The startup says it has partnered with 20 brands and added over 20,000 users.
Medront’s strengths include extensive API integrations with popular platforms like Twitter, YouTube, Facebook, Instagram, Reddit, Spotify, Gmail, Google Drive, and Evernote. The company is currently concentrating on acquiring new users in India. Furthermore, Medront offers Android permissions, notifications, and SMS verification.
Medront, which was raised by PIEDS (BITS Pilani), is positioned for future expansion because it has G2 verification for financial services advertising.
The global Data as a Service (DaaS) market is anticipated to reach $51.60 billion by 2029, up from its estimated $20.74 billion in 2024, according to market research. The market is expected to grow to $2.17 billion in India by 2024.
