A Kolkata-based early stage startup Datasutram is looking to solve the problem of availability of products during this uncertain period by using multiple data sources and running its analytics engines to predict demand.
Started by three Jadavpur University engineering graduates - Aisik Paul, Ankit Das and Rajit Bhattacharya - the startup has worked with around 10 pharma companies to ensure a steady supply of medicines across Mumbai, Pune and Kolkata. They are also in talks with more than 20 other companies to help them predict demand and initiate supply.
“We were developing predictive models based on more than 178 data sources like tracking thermal patterns, heat data to show concentration of consumers to identify commercial areas in cities which can be targeted by businesses for their own expansion, We have utilised those same models to help bridge demand supply gap for medicines during these extraordinary times," said Bhattacharya.
For data sources they rely on satellite data, private data sources, government data, Google among many others.
COVID-19 has provided as opportunity for Datasutram to showcase the utility of their analytics engines. The founders claim they have managed to increase deliveries by more than 30 percent for some of their clients. Among products they facilitated are hand sanitisers, medicines, essentials, among others.
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Bhattacharya said these models help predict demand and also give confidence to the consumer that essential products will be available. It can stop panic buying. While they have done it for pharma companies, they are looking to replicate it for grocery: another sector hit by demand and supply mismatch because of the pandemic. They have held conversations with multiple online grocers as well.
"The idea for us is to remain sector agnostic, we can create location centric structured data sets which can be used in multiple ways from government programmes to business insights," said Bhattacharya.
Being part of Sanjay Mehta's 100X VC's first cohort of 20 companies, Datasutram is in talks with angel investors to close a round of funding in the range of Rs 1.5 crore to 2 crore soon.
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