AI-based startup Crayon Data bets big on India, Asia
Founded by two Chennai-based entrepreneurs, it focuses on fintech and banking, retail, tourism sectors and other traditional enterprises.
CHENNAI: Singapore-based Big Data start-up Crayon Data helps companies personalize their digital platforms for end users, to increase engagement and in turn revenue, similar to what tech companies use for recommendations.
Founded by two Chennai-based entrepreneurs, it focuses on fintech and banking, retail, tourism sectors and other traditional enterprises. Speaking to TNIE, founder and CEO Suresh Shankar said: “Based on behavioural research, we have reduced the choices to four variables -- taste, influence, context and past behaviour -- to give suitable recommendations for customers.”
Crayon Data with a growth rate of 125% (CAGR) sees a huge potential in India and its founders credit the country’s robust digitised economy. “Our ability to analyse the motivation of the buyers/ users and give better recommendations is the secret sauce to the game,”
Shankar said. It plans to further increase its business in India, South East Asia and the Middle East and expand into the US and European markets, focusing on fintech. It aims to raise revenue by increasing its user base from 13 million at present to 500 million and generating 100 million USD revenue by 2025.