Other Private Equity/Strategic Investments
Lenskart backs location AI startup GeoIQ
Bengaluru-based hyperlocal performance prediction startup GeoIQ has raised USD 2.25 million from eyewear retailing unicorn Lenskart and existing investors 9Unicorns and Ecosystem Ventures. The fresh funding will allow the location AI firm to expand into international geographies, strengthen its proprietary data stack and leverage communities of data scientists to build diverse AI models. GeoIQ utilizes proprietary algorithms to layer government data with other 600 trusted public sources and satellite imagery into generating 100m x 100m geospatial grids. The company's AI layer uses these data points to predict user behaviours, affluence and business potential at an address or latitude and longitude.
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