Apr 6, 2017

D ataWeave has raised an undisclosed amount of series-A funding from investors led by one of Japan's largest ad tech companies, FreakOut Group, which has acquired a strategic stake in the business intelligence startup based in Singapore and Bengaluru. Herb Madan, a prolific angel investor from the Silicon Valley , WaterBridge Ventures and a couple of other venture capital firms in India and Singapore also participated in the round. Existing investor Blume Ventures, which had invested in the seed round in the company in 2013 along with other investors, also participated in this round. “The potential for synergies is immense," said Yuzuru Honda, global CEO, FreakOut Holdings. “While DataWeave 's technology analyses online consumer behaviour, FreakOut Group's technology analyses consumers' offline behaviour using smartphone data. Also, by leveraging FreakOut Group's network, DataWeave will be able to expand their business in Asia, including Japan.“ Honda said FreakOut Holdings is interested in investing in Indian startups with high-level technology and potential for worldwide business expansion. “We are also considering further investments, including M&A opportunities in the future," he said. DataWeave is strategically looking to leverage Madan's expertise and exposure to big data. “We will deploy these funds to expand our sales, marketing and customer success initiatives, especially in North America," said DataWeave CEO Karthik Bettadapura. RELATED