Medront Datalabs, a rising startup in the consumer data management space, has successfully raised INR 1.06 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). Founded in 2023, Medront has quickly made a name for itself by offering innovative data pods that empower users to take control of their personal data, providing a much-needed alternative to the tech giants that dominate the market.
The funds will be strategically allocated towards product development, growth efforts, user acquisition, onboarding DAAS (Data as a Service) clients, and covering miscellaneous expenses. This funding is set to strengthen Medront’s position in the rapidly growing data management industry.
A Rapidly Growing Platform
Since its inception, Medront Datalabs has seen rapid growth, amassing over 20,000 users and partnering with 20 brands. This rapid expansion highlights Medront’s potential as a key player in the consumer data management space, as it continues to build a platform that prioritizes user control and privacy.
Co-founded by Nitesh Singh, an Electrical Post-Grad from IIT Bombay with extensive experience in data science, and Saurav Suman, a Computer Science graduate from IIT Jodhpur with a strong background in tech entrepreneurship, Medront brings a wealth of expertise to the table. Nitesh’s track record includes leading CreditMate from inception to its acquisition by PayTM, while Saurav has a rich history of developing software and data products at various startups.
Investor Confidence in Medront’s Vision
Vikram Ramasubramanian, Partner at Inflection Point Ventures -“With the digital world expanding rapidly, securing personal data is more crucial than ever. The Government of India has implemented ‘The India Digital Personal Data Protection Act 2023 (DPDPA)’ to regulate the processing of digital personal data. However, the act has its limitations, as it does not outline methods to protect or manage data. In this context, Medront emerges as a comprehensive platform that empowers consumers by giving them real ownership of their data, allowing them to manage their web browsing, music, finances, food choices, interests, and social media —all from one secure platform. Inflection Point Ventures (IPV) recognizes that digital privacy tools are going to be the next big thing in the tech landscape, which is why we decided to invest in Medront.”
Expanding User Base and Future Growth
Medront’s focus on user acquisition in India is supported by its rapid development of data products, which are heavily influenced by user feedback and demands. The platform boasts extensive API integrations with major platforms like Twitter, YouTube, Facebook, Instagram, Reddit, Spotify, Gmail, Google Drive, and Evernote. Additionally, Medront provides Android verification for notifications, SMS, and permissions, ensuring a robust and secure data pipeline for its Data Pods.
Nitesh Singh, CEO of Medront, highlighted the startup’s mission to revolutionize the data ecosystem. He said, “Medront was born out of our vision of a new Data Ecosystem where data is owned and controlled by users. In the past year, we have launched Data Pods, Personal AI and we will soon launch a Data Consent Platform for Users and Brands to exchange data securely. Over the next year, our goal is to bring personal data ownership to millions of users across India. With a strong backing of IPV, we are confident of scaling Medront to be a game-changer in the Data Ecosystem and to also empower millions of consumers with Data Ownership and Privacy.”
Positioned for Growth in a Booming Market
Medront Datalabs is already making significant strides with the launch of its MVP on the Play Store, and the startup has established a comprehensive data pipeline for mining, classifying, and generating insights from diverse sources. With a 4.1 Play Store rating, Medront is well-positioned to expand its user base in India.
The global Data as a Service (DaaS) market, valued at USD 20.74 billion in 2024, is expected to grow to USD 51.60 billion by 2029. In India, the market is projected to reach USD 2.17 billion in 2024. This growth, driven by increasing data privacy regulations and a focus on data monetization and personalization, aligns with Medront’s offerings in data management and user control.
Medront Datalabs, pre-seed funded and incubated by PIEDS (BITS Pilani), also holds G2 verification for advertising financial services, setting the stage for future growth as it continues to innovate in the data management sector.
Also read – Top 3 Indian Deep-Tech Startups Pioneering Home-Grown AI Models
Join our WhatsApp News Channel for quick updates – FYI9 News WhatsApp Channel