Social media analytics firm Synctag raises funds in round led by Subhkam Ventures
Social media analytics platform Synctag has raised Rs 2 crore ($307,600) in a fresh round of funding, show filings to the Registrar of Companies.
The round in the firm operated by Ad-Hash TechnoLabs Pvt. Ltd was led by Mumbai-based Subhkam Ventures. Individual investor Mohit Khadaria also participated, joining the company’s board as a result. The funds were raised in January, filings show.
The proceeds will be used for geographical expansion, besides scaling up the portfolio of products and services.
TechCircle could not ascertain whether the funding was part of a larger round.
E-mail queries to Harsh Mehta, founder of Coimbatore-based Synctag, as well as Subhkam Ventures, did not immediately get a response.
Earlier in the day, The Economic Times had reported, citing Subhkam, that the company had raised undisclosed funds in a Series-A round for expansion into New Zealand, Australia, Ireland and the UK. The report added that this was the fourth round of funding for the company that had last raised an undisclosed sum in 2016 at a valuation of Rs 35 crore ($5.3 million).
Subhkam was founded by Rakesh Kathotia in 1998. The company deals in public market and private equity, with primary focus on the former.
Synctag was founded in 2015. The company’s social media analytics platform aggregates content and feed from a user’s e-mail, RSS (Really Simple Syndication) feeds and other social media platforms and presents it on a single dashboard. The company’s tech platform can run on top of artificial-intelligence product suites like IBM Watson, show filings.