Market research startup Consuma AI raises Rs 12 crore from Equirus, others
Consuma AI, a Saas tool for consumer research, has raised Rs 12 crore in a round led by Equirus Capital’s InnovateX Fund, which invested Rs 7 crore.
The round also saw participation from angel investors Abhishek Goyal, cofounder of Tracxn Technologies, Mekin Maheshwari, founder of Udhyam Learning Foundation, Arnav Kumar, founder of Leap Finance, and others.
“Getting people to fill out survey forms or sit in a focus group is a painfully slow process, it takes weeks, sometimes months. And when you finally get the responses, half of them are gibberish. Basically, traditional consumer research is broken,” founder Abhilash Madabhushi told ET.
Consuma currently has 35-40 customers including brands like Britannia, Foxtale, and Godrej.
“For most of our customers, the biggest win is not just cost, but time. What used to take them months now happens in weeks. They have cut their research budgets and streamlined the entire process, from insight to launch” Madabhushi added.
Founded in 2021, the startup claims to be different. “Most GPT-style tools scrape only what Google indexes, which is often less than 5% of social media, while Consuma’s crawlers capture real conversations from comments, reviews, and posts across all social media platforms,” explained Madabhushi.
Traditionally, the consumer research space has been dominated by firms like Nielsen, Kantar, and Ipsos, but in recent times research-focussed startups such as thelightbulb ai (backed by Chiratae Ventures, 9Unicorns, Anthill Ventures) and Bewgle Inc, backed by Ideaspring Capital, have also entered the Indian market.
The round also saw participation from angel investors Abhishek Goyal, cofounder of Tracxn Technologies, Mekin Maheshwari, founder of Udhyam Learning Foundation, Arnav Kumar, founder of Leap Finance, and others.
“Getting people to fill out survey forms or sit in a focus group is a painfully slow process, it takes weeks, sometimes months. And when you finally get the responses, half of them are gibberish. Basically, traditional consumer research is broken,” founder Abhilash Madabhushi told ET.
Consuma currently has 35-40 customers including brands like Britannia, Foxtale, and Godrej.
“For most of our customers, the biggest win is not just cost, but time. What used to take them months now happens in weeks. They have cut their research budgets and streamlined the entire process, from insight to launch” Madabhushi added.
Founded in 2021, the startup claims to be different. “Most GPT-style tools scrape only what Google indexes, which is often less than 5% of social media, while Consuma’s crawlers capture real conversations from comments, reviews, and posts across all social media platforms,” explained Madabhushi.
Traditionally, the consumer research space has been dominated by firms like Nielsen, Kantar, and Ipsos, but in recent times research-focussed startups such as thelightbulb ai (backed by Chiratae Ventures, 9Unicorns, Anthill Ventures) and Bewgle Inc, backed by Ideaspring Capital, have also entered the Indian market.
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