Introduction -
With the growing popularity of e-commerce marketplaces, India’s e-commerce market is expected to nearly double by 2025. In this rapidly evolving landscape, no business can afford to remain detached from the online marketplace. However, tracking marketplace analytics to improve the product performance on these marketplaces remains to be a daunting task for businesses. The absence of a dedicated platform to guide sellers in identifying optimal keywords across categories for product listings can hinder their ability to effectively position their products in relevant search results, potentially leading to reduced exposure and sales. Moreover, consistent and periodic data extraction is vital for monitoring listing performance, identifying trends, tracking product performance, benchmarking presence against competitors and understanding the pricing and assortment strategies for competitors; the process can be complex and time consuming due to the increasing number of brands and sellers selling online everyday.
Datavio - an AI-led marketplace intelligence and optimisation solution, is helping D2C brands increase sales, identify categories and seasonality trends and benchmark against competitors on E-Commerce by combining their private data across marketplaces, with the large-scale public data across categories using large-scale data crawlers. Datavio helps brands in three ways : 1) identify relevant customer searches to help brands position their products, 2) build custom ML models to help them on content, media, and price recommendations, 3) look for gaps in the marketplaces and discover new variations, bundling, and catalogue opportunities.
Founded by the trio of dynamic engineers- Mayank Prasoon, Kunal Parmani and Mukul Agarwal, Datavio is all set to leverage growth opportunities in the E-commerce space. Mayank, an IIT-BHU graduate of 2018, previously contributed significantly to Quartic.ai, playing a pivotal role in constructing AI data pipelines and architectural frameworks. Mukul, also an IIT-BHU alumnus, honed his expertise at Adobe, specialising in the integration of AI solutions into the Adobe Marketing Cloud. His extensive experience includes prior stints at companies like smallcase and indmoney. Kunal, a BITS Pilani graduate, has a robust background in product management. He previously held roles at Masai School and played a key role in product management. Additionally, he excelled in driving sales while leading growth initiatives at Fancymonk as one of the early team members.
Market Opportunity-
The increasing prevalence of online shopping and the global trend towards digitalization are fueling the demand for online brand intelligence and optimization tools. In 2021, the size of Artificial intelligence in the E-Commerce Market was valued at USD 5.1 Billion and is projected to reach USD 16.5 Billion by 2030, growing at a CAGR of 14.8% from 2023 to 2030. With the retail and e-commerce sectors experiencing substantial growth, the need for these optimization tools is on the rise, contributing to the expansion of the brand intelligence and optimization tools market.
100X Thesis -
The Indian e-commerce market is experiencing rapid growth, with an increasing number of brands generating revenue through marketplaces and E-Commerce. Notably, product searches are shifting from Google to predominantly occuring within these marketplaces. In light of this transformation, Datavio is strategically positioned to capitalize on this trend. The founders are actively developing a solution tailored for the Indian market, aimed at assisting Indian sellers in optimizing their listings on local marketplaces, thereby directly boosting their revenue. 100X.VC recognizes this as a substantial untapped opportunity, awaiting the right team to seize it.
Conclusion
Datavio stands at the forefront of a burgeoning Indian e-commerce landscape poised for exponential growth. With India's e-commerce market set to double by 2025 and the increasing shift of product searches to marketplaces, Datavio's innovative digital shelf optimization solution addresses crucial pain points faced by businesses. The founders' backgrounds in AI, technology, and product management underscore the team's readiness to harness this opportunity. As marketplaces continue to thrive, Datavio's mission aligns perfectly with the evolving industry dynamics, making it a compelling investment for 100X.VC to support and nurture.
