Seed Funding from Blume Ventures, IQ for Mumbai Startup RedQuanta

Compared to the dot-com boom (and bust) of the last decade, this one seems to be pretty nice for startups, especially in India as they are getting a lot of seed funding. Many venture capitalists and angel investors are showing confidence in startups in India. According to a post on WATblog, Mumbai-based RedQuanta, a mystery shopping audit company, has received seed funding from Blume Ventures, India Venture Partners, and India Quotient as well as a few angel investors.

Seed Funding RedQuanta

As of now, there is no information as to how much seed funding has RedQuanta received. But industry insiders have hypothesized that the funding could be in the range of a million dollars. Blume Ventures and India Quotient both are early stage investors, with the latter having being set up just a few weeks before. The mystery shopping company uses a unique and result-oriented approach.

RedQuanta was established a few months ago by Pankaj Guglani. He says, "Retail industry is witnessing a huge shift from unorganized to the organized sector. We are building our capabilities to tap this growth. The need is very evident to have robust systems for customer intelligence – systems that bring accurate predictability, access to real time information and provide actionable insights. In fact, RedQuanta is one of the first in the country to use location-aware mobile application for data gathering and for performing instant audits."

He has previously worked with Zapak Digital Entertainment in the capacity of a Business Head. The Mumbai-based company has already managed to win nearly 50 clients. Well, the digital media industry sure is creating a lot of jobs and recruitment for digital agencies is on the rise too.