A gamified consumer insights portal – Adytude.com, run by NFX digital, has raised $1 million in its latest funding round. The round was led by Indian Angel Network, one of the largest network of angel investors in India.
While no further details of the deal have been disclosed, it is known that Vikas Kuthiala was the lead investor. Also, he will now be joining the company’s board.
Now, with the new cash coming in, the startup will expand its footprint across the country. It also plans to kickstart operations in the UK by the end of the year. Some amount of the raised funding will be used for the marketing and research efforts.
The company was founded in 2013 by Shivjeet Kullar and Vir Kullar. It is a portal on which consumers come online to play games on a daily basis, and provide information, which is then sold to clients.
The portal is basically a gamified consumer insights engine. Brands serve their advertisements, concepts, and story boards, and consumers visit the portal every day to share their honest feedback.
Consumers participate, enjoy interesting content and earn points they can redeem for prizes. On the other hand, the back end churns out deep analytical research to pinpoint key insights for clients.
It gathers relevant information from targeted demographics, depending on the requirements set by its clients. The company counts leading brands such as Hyundai, ShopClues and the Discovery Network among its clients.
Apart from Adytude, the company has three more offerings – Ad Power – for agencies and brands; Axelarate – for tech startups; Ad Ensurance – for media releasing agencies.
Ad Power is a tool that helps in measuring brand perception and influence instantly and affordably. You can get instant results on your communication. Axelarate, targeted at tech startups, gives insights from targeted consumers about product or communication within limited budgets.
Ad Ensurance is a solution to monitor post-ad effectiveness. It provides information about what types of ads are performing better, at what geographies and which gender/age group is responding well.
Prior to this funding round, NFX Digital had raised about Rs 3 crore from Prahlad Kakkar and Abhinay Singh Deo, among others.
Shivjeet Kullar, co-founder of the company, said,
When we had the idea for this site, the key was whether we could build a relevant community. It wasn’t easy, but now we have thousands of loyal users and the average session time on this site is 14 minutes, which is off the charts – very few sites in India have this level of involvement.