Bengaluru-based market research startup Consuma AI has raised ₹12 crore ($1.3 million) in a seed funding round led by Equirus Capital’s InnovateX Fund, which contributed ₹7 crore, with participation from a notable group of angel investors including Abhishek Goyal (Co-founder of Tracxn), Mekin Maheshwari (Founder of Udhyam Learning), and comedian-investor Biswa Kalyan Rath, among others.
Investment Breakdown and Investor Rationale
Lead Investor: Equirus InnovateX Fund
- Amount Invested: ₹7 crore
- Focus: Early-stage tech and SaaS startups in India
- Statement by Sadhika Agarwal:
“In the quick-commerce era, the shelf life of insights is extremely low. Consuma AI empowers brands to stay ahead with real-time, actionable intelligence.”
Angel Investors
- Abhishek Goyal – Co-founder, Tracxn
- Mekin Maheshwari – Founder, Udhyam Learning
- Bhavik Dholakia, Harsh Shah, Arnav Kumar, Shiv Kapoor, Biswa Kalyan Rath
The Consuma AI Advantage: Next-Gen Market Research
AI-Powered Consumer Intelligence Platform
Consuma’s SaaS platform offers:
- Real-Time Consumer Tracking: Continuous monitoring of consumer behavior across channels
- Predictive Analytics: Forecasting trends and demand shifts
- Hyper-Precise Segmentation: Granular audience categorization beyond demographics
- Automated Insights Generation: Reducing time from data collection to actionable strategy
Target Clients and Use Cases
- FMCG Giants: Britannia, Godrej
- D2C Brands: Foxtale (skincare)
- Retail and E-commerce: Adapting to quick-commerce dynamics
Market Opportunity: The $5B+ Indian Consumer Intelligence Space
Industry Shift
- Traditional Methods: Slow, expensive surveys and focus groups
- Modern Demand: Real-time insights in a fast-moving consumer landscape
- Quick-Commerce Impact: Insights can become obsolete within days or hours
Competitive Landscape
- Incumbents: Nielsen, Kantar, traditional market research firms
- New Entrants: AI-native platforms like Consuma gaining traction
- Market Size: Indian consumer intelligence market valued at over $5 billion
Founder Background and Company Vision
Saurabh Jain, CEO & Co-founder
- Previous Role: Executive at Nielsen
- Team: Comprises experienced professionals from Nielsen and other insights firms
- Vision: To make consumer intelligence instantaneous, accurate, and accessible
Mission Statement
“We’re transforming how brands understand consumers—moving from periodic snapshots to continuous, AI-driven intelligence that anticipates needs and behaviors.”
Use of Funds and Growth Strategy
Immediate Priorities
- Technology Enhancement
- Improve AI and machine learning algorithms
- Develop industry-specific modules
- Enhance data visualization and reporting
- Team Expansion
- Grow from current strength to 50+ employees
- Hire data scientists, product managers, and sales professionals
- Market Expansion
- Deepen presence in Indian market
- Explore international opportunities in Southeast Asia and Middle East
Long-term Goals
- Become the leading AI-powered consumer intelligence platform in India
- Expand into adjacent areas like brand tracking and marketing optimization
- Build partnerships with global market research firms
Sector Trends: Why Consumer Intelligence is Heating Up
VC Interest in Vertical AI
- Shift from Horizontal to Vertical AI: Investors favoring domain-specific AI solutions
- Proven Business Models: SaaS platforms with clear revenue streams
- Scalability: AI-driven insights can scale across industries and geographies
Market Drivers
- Digital Transformation: Brands increasingly relying on data-driven decision making
- Consumer Behavior Complexity: Post-pandemic shifts requiring sophisticated tracking
- Competitive Pressure: Need for faster, more accurate market intelligence
Client Impact: Transforming Brand Decision-Making
Case Study: Britannia
- Challenge: Understanding rapidly shifting snack consumption patterns
- Solution: Real-time tracking of consumer preferences and trial behavior
- Result: Faster product iteration and targeted marketing campaigns
Case Study: Foxtale (D2C Skincare)
- Challenge: Identifying emerging ingredient preferences among young consumers
- Solution: AI-powered segmentation and trend prediction
- Result: Data-driven product development and inventory planning
Technology Stack and Innovation
Core Technologies
- Natural Language Processing: Analyzing social media and review data
- Computer Vision: Processing visual consumer data
- Predictive Modeling: Forecasting consumer trends
- Data Integration: Aggregating multiple data sources seamlessly
Privacy and Compliance
- Data Anonymization: Protecting individual consumer privacy
- Regulatory Compliance: Adhering to Indian data protection standards
- Ethical AI: Ensuring unbiased and fair algorithms
Competitive Differentiation
vs. Traditional Market Research
- Speed: Real-time insights vs. weeks-long traditional studies
- Cost: More affordable for emerging brands and SMEs
- Accuracy: Larger sample sizes and continuous data collection
vs. Other AI Platforms
- Domain Expertise: Founders’ background in consumer insights
- Vertical Focus: Specialized in FMCG and retail sectors
- Client-Centric Approach: Custom solutions for specific business problems
Challenges and Opportunities
Market Adoption Barriers
- Legacy Mindset: Traditional marketers accustomed to conventional research
- Data Quality: Ensuring clean, representative data inputs
- Talent Shortage: Scarcity of professionals skilled in both AI and market research
Growth Opportunities
- SME Market: Affordable solutions for smaller businesses
- International Expansion: Similar consumer dynamics in emerging markets
- Adjacent Verticals: Applications in banking, healthcare, and automotive
Broader Ecosystem Impact
Alignment with National Initiatives
- IndiaAI Mission: Supporting homegrown AI innovation
- Atmanirbhar Bharat: Reducing dependency on international research firms
- Digital India: Enabling data-driven business decisions
Job Creation and Skill Development
- Direct Employment: 50+ roles in technology, sales, and research
- Indirect Impact: Upskilling market research professionals in AI technologies
- Ecosystem Development: Contributing to Bengaluru’s SaaS and AI leadership
Conclusion: The Future of Consumer Insights is AI-Driven
Consuma AI’s successful seed funding round represents a significant milestone in the evolution of market research—demonstrating investor confidence in AI’s ability to transform how brands understand and respond to consumer needs. By combining domain expertise with cutting-edge technology, the startup is well-positioned to challenge established players and capture a meaningful share of the growing consumer intelligence market.
For Indian brands, platforms like Consuma AI offer the opportunity to compete more effectively in an increasingly dynamic marketplace—turning consumer data into competitive advantage. As the platform scales and evolves, it could set new standards for how consumer intelligence is gathered, analyzed, and applied across industries.