Though the exact quantum of fund is not declared, Ojas is known to put in US$ 2, 50,000 – 1.5 Million as seed funding & depending on the performance may put in additional in subsequent rounds. The capital is supposed to be used for product development & infancy marketing strategies. In simpler words, the product is in Beta stage & the company wants to market it once its ready for deployment. As part of the investment, Gautam Balijepalli and Rajesh Srivathsa of Ojas will join the company’s board while Karthik Reddy of Blume Ventures will join as an observer.
What does Insieve do? The company’s product is an ‘intelligent sharing network’ that tries to understand what one shares within his or her network. Based on the data collected, the application attempts to recommend content. We might be tempted to correlate it to ‘Promoted Tweets’ or ‘Sponsored Stories’, but unless the product is brought into real world, we will not speculate.
In today’s internet world, data is important, more important is useable data. If companies can correctly leverage the data generated by users, it can offer just what the user desires thereby exponentially increasing chances of a sale. If customer believes in the recommendations, then he is bound to be a life-long patron. “Insieve’s solution of helping one find relevant information, and relevant information find you is very unique. But the team has really been successful in tracking complex problems and coming up with a solution with the necessary expertise”, shares Balijepalli, Partner at Ojas.
Ojas has been investing really off-beat technologies. Quite recently it invested in Brizz-TV a tech-startup that wants to make TVs smarter. It also invested in Digital Radio. Some time back, it put faith & money in Social gaming start-up Play140.
Let’s see if it has picked-up another winner.