500 Startups invests in Indonesian AI analytics startup

AI analytics company AiSensum has just bagged an undisclosed amount of seed funding from 500 Startups.

Launched in 2018, the Jakarta-based firm AiSensum partners with firms to access their latent data, which it then uses to create actionable analytics reports to help industry decision makers.

It uses its AI platform OctoPi to mine and analyze the data points, and share the results through interactive dashboards. The platform tracks critical factors like market share, trends, price elasticity, customer segmentation, and others.

In exchange, partner-firms get an additional income stream by charging AiSensum for their data.

The startup has a freemium subscription model. Enterprise clients can view up to three dashboards for free, but need to pay to view more critical data points like market volatility and business opportunities in the industry.

AiSensum believes that there are critical information gaps across industries, and the traditional way of conducting surveys to gather insights has become inefficient. It aims to address those gaps by giving enterprises a better call to action.

“We are now in the era of data warfare,” says 500 Startups managing partner Khailee Ng. “The most valuable, proprietary data streams and the most intelligent use of it will determine which business survives or thrives.”

The company claims to have “tied up with several large players in the ecommerce and telecommunications industries,” analyzing over 45 million transactions from these partnerships. Its partners include grocery ecommerce site HappyFresh and bills payment platform Sepulsa, according to its website.

AiSensum has offices in Jakarta, Singapore, and Bangalore. Its founders Vivek Thomas and Rajiv Lamba have more than 30 years of combined experience in marketing research and technology.