Inflection Point Ventures led a Rs 1.8 million seed fundraising round for Com Olho, a Gurugram-based cyber security and IP-driven analytics startup. IPV is a Gurugram-based angel investment organisation that has made 111 investments worth Rs 358 crore.
The funds will be used to hire talent, improve the tech stack, and aggressive market penetration in India and other emerging economies.
Com Olho, founded in 2019 by Abhinav Bangia, assists CXOs in understanding behavioural anomalies in their customer data and qualitatively auditing their digital media spends and digital brand presence in order to save money and get a higher return on ad spending.
Com Olho was the first Indian business to be given a patent for non-rule-based ad fraud detection in January 2021. With their brand safety toolkit, the business claims it has been able to save at least 20% MoM on even cost per sale (CPS) campaigns and enhance ad viewability.
Deep learning and clustering are used by the company to analyse data from businesses and identify fraudulent patterns with a high probability of success. It currently holds three patents (1 granted, 1 published in India, and has one published application with the United States Patent Office.)
“As digital marketing, product and performance marketing become the new age mantra for the companies, they are also dealing with ad fraud issues, return on media spends and efficacy delivered via each ad done. So far, there is no definitive way to determine any of these factors,” Mitesh Shah, Co-Founder, Inflection Point Ventures said.
“Com Olho using its patented technology is able to provide this intensive knowledge and their reports that can be administered to challenge payouts , should the need arise for exposing any ad fraud. We believe we are first mover in such a cutting-edge segment. As we move closer towards Metaverse and digital life, there is bound to be concerns about customer’s data. Com Olho is rightly poised to leverage their understanding of everything digital.”
Speaking on the development, Abhinav Bangia, Founder & CTO, Com Olho, said: “We at Com Olho create innovative – AI based technology to help enterprises and governments mitigate the risks arising from various kinds of digital frauds. We are India’s first company to get a patent grant for advertising fraud detection, to which Indian advertisers will lose 6000 CR in 2022.”
“The team at IPV believed in our cause and vision and are supporting us with growth strategy and investment. IPV demonstrates entrepreneurial spirit in their venture capital practices, which I think clearly differentiates them from the rest. The entire fund-raising process was well structured, seamless and to the point,” Abhinav adds.
Com Olho’s product suite comprises an end-to-end AI-based solution from identifying sources of malpractice, empirically proving the fraud, and providing a ready real-time dashboard with interpretation resulting in deterministic savings, it said.
Apart from this, The startup is also working towards first-party data and encrypted digital governance. It works with some of the leading global financial and e-commerce companies like Indiabulls Group, Airtel, Aditya Birla Group, Revv, etc.
Notably, Com Olho is recognized by Startup India, the Department for Promotion of Industry and Internal Trade, Government of India.
