Knowing the area you live in and understanding its demographics is crucial to creating an effective business. Location-based intelligence , such as driving time polygons, distance and other information about customer locations can give businesses an advantage over competitors. But, crucial information like that is unstructured and scattered and companies aren’t yet able to make the most of its potential.
This is where Bengaluru-based company GeoIQ can help. To address the need for accurate data-driven decision-making, the group of data scientists headed by Devashish Fuloria, Ankita Thakur and Tusheet Shrivastava created GeoIQ. GeoIQ is an industry leader in location intelligence which makes use of the power of AI and machine learning capabilities. give crucial data on locations, people who live there, their behaviors, business and their future. The machine learning engine of GeoIQ determines the reason of the “where’ and thus uncovering patterns in data from businesses.
“GeoIQ has been formed with an aim to introduce businesses to real-world data and solve some of their pressing problems with location intelligence. We help businesses harness this otherwise non-consumable data that lies external to the organisation and draw actionable insights around user behavior at the street level. Some of the problems that we are solving are around credit risk prediction, claim propensity, retail expansion, hyperlocal targeting, lead prioritization, fraud prediction, and much more,” said Devashish Fuloria Co-founder and CEOof GeoIQ.
In the hopes of becoming the most popular platform for predicting hyperlocal business performance across different geographies This startup is aiming to determine the risks of each location and potential opportunities for businesses to work effectively. GeoIQ helps businesses to unlock their natural strengths while working in an extremely competitive business environment.
It also provides real-time solutions that help optimize resources as well as processes, costs and resources and maximize ROI profits and revenue. This revolutionary platform can also assist in visualising sales, identifying most targeted groups as well as critically evaluating prospective customers, and estimating ROI in real-time. This allows the customers to enhance their position as a competitive company.
GeoIQ basically creates a user geo-identity, based on the aspects that impact the business scenario, including users have connectivity to banking hubs, wealth and real estate infrastructure the most important businesses that are located there and much more street-level information. India boasts 350 million hyperlocal grids that are unique with 2000+ distinct variables, and more than 600 sources of data that include satellite imagery, government sources listings, maps, etc. GeoIQ has already developed geo-identities for more than 7 billion people in India.
What GeoIQ provides
The platform has three offerings including explorer, NoCode ML, and Data APIs. Explorer offers hyperlocal information in real-time. The data is accessible with a single click to hundreds of already defined GeoIQ attributes. All you have to do is input the address of your location or latitude/longitude coordinate, and choose the appropriate attributes for that you require information. These attributes could include socio-economic variables, demography infrastructure, healthcare data on crime and many more. Choose from the more than 3000 attributes in the catalog of data.
The NoCode ML platform is a advanced solution that is backed by machine learning capabilities and analytics capabilities. This is the very first fully automated ML platform that includes an in-built feature store. Businesses can create multiple models without having to code, and it takes just a few minutes of time. They can test their models with different attribute sets and choose the one that’s most effective for them. It gives near-real-time location details for catchments at a resolutions as high as 100m x 100m.
APIs can be seamlessly integrated in existing code to provide location insights and super-fast data APIs as well as AI to allow for precise customer data augmenting.
Meet the team of the founders.
Devashish Fuloria, CEO and Founder of, GeoIQ, is an alumni from IIT Kanpur and holds a Ph.D. from Imperial College London (class of 2009). He also was the co-founder and founder of ZeLadder Sports and a sports writer for Cricinfo that reflects his diverse interests. With more than fifteen years’ experience with the design and support of data-driven products He aims to solve difficult data problems using easiest solutions for the users.
Ankita Thakur co-founder and CDO is a specialist in data science as well as having worked at Oyo, MuSigma and HSBC before joining HSBC. With more than 11 years of expertise in the retail, geospatial, BFSI and hospitality domains She is an expert in the creation of data-driven solutions to complex issues in the industry and needs for analytics. Her expertise spans R, Python, and Spark with a solid understanding of statistical methods.
Tusheet Srivastava The other co-founder and CTO, also an IIT graduate. He was previously employed by Global Analytics, HT Media and OnlineTyari. He is an expert Machine Learning expert and specialises in the development of complicated ML algorithms. He also works on Recommender systems, data-related products that are end-to-end, as well as massive-scale, high-volume data systems.
Growing in a positive direction
While the product can be used in a variety of sectors, GeoIQ has made its distinctive mark on the retail and BFSI sectors. GeoIQ has already partnered with several of India’s fastest-growing brands such as NAVI, Paytm, HeroFinCorp, DMI Finance, Zepto, Lenskart among other companies. GeoIQ’s unique services Fintech customers have seen a 10% reduction in NPAs , with improved risk profilers and the growth of 20 percent in the size of their books. Customers who shop online saw 20 percent less the number of returns and fraudulent transactions.
GeoIQ is currently on a growth direction which is currently at 0.5 million visits per day and 1 million in ARR by 2022. The company plans to achieve 5 million USD for the fiscal year that is currently in operation. The startup has experienced 10X ARR growth before and is currently experiencing 5X growth in ARR. GeoIQ intends to expand its reach within the US market, in addition to other countries.
It has gathered significant investors’ support through 9Unicorns, Kunal Bahl, Rohit Bansal, inflection Point Ventures Lalit Keshre (CEO, Groww), Pravin Jadhav (ex-CEO Paytm Money), Shamik Sharma (ex-CPO Myntra), and Amit Bhor (CPO, Capital Float). Lenskart has also committed USD 2 million to the pre-Series-A funding.
GeoIQ is growing into a leader in the field of AI-based location intelligence and is in the phase of hyper-adoption. There is a lot of possibilities in real-world data and GeoIQ is set to become an innovator. The lean group of top performers are changing the way organizations make use of real-world data as well as alternate data from all over the globe and are creating what the next generation of analytics for data across different industries.