Cyber security & IP-led analytics startup Com Olho raises Rs 1.8 crore in a Seed round

Gurugram-based Cyber security and IP-led analytics startup Com Olho has raised Rs 1.8 crore in a Seed funding round led by Inflection Point Ventures. IPV is a Gurugram-based angel investment firm that has so far invested Rs 358 crore across 111 deals.

According to the startup, the raised funds will be used towards hiring talent, tech stack improvement, and aggressive market penetration in India and other emerging economies.

Founded in 2019 by Abhinav Bangia, Com Olho helps CXO’s to understand behavioral anomalies in their customer data & help them qualitatively audit their digital media spends & digital brand presence to provide savings and better return on ad spending.

Earlier in January 2021, Com Olho became the first Indian startup to be granted a patent for non-rule-based ad fraud detection. Using this, the startup says it has been able to provide at least 20% MoM savings to even cost per sale (CPS) campaigns and improve ad viewability by their brand safety toolkit.

The Company uses deep learning and clustering to analyze enterprises’ data and identify fraudulent patterns with a high probability of success. At present, it holds 3 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.

According to the company’s statement, The Indian digital advertising market is large with advertisers expected to spend Rs 24,000 crore in mobile ads by 2022 with ~Rs 6,000 crore of that amount estimated to lose out to ad frauds.

Com Olho aims to address 10% of this market i.e., Rs 600 crore Advertisers worldwide will spend more than US$ 740 billion on digital advertising by 2022. The losses to digital advertising fraud would amount to US$ 42 billion by 2022.

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