The founding members of the company are Gunjan Thakuria, Naresh Palaiya, Himangshu Das, Nikit Shrungarpawar who have extensive experience in machine learning, computer vision, products with around 10 years in companies like Reliance, Accenture, Cognizant, Carwale and Vodafone. The company even has a former executive director of Noble Group as a strategic investor.
Initially, Tathya.Earth looked at petroleum products, soon realizing that they were looking at the market already served. The founders made it clear that they would like to serve the underserved area and, based on additional research and market feedback, realized that they should target metals in the commodities space as it is largely untapped. Therefore, they began to work on a model to provide near real-time information on steel production in the world’s major steel companies; stocks of iron ore and coal in major ports around the world. The next series of products in development is the inventory and production of copper, aluminum, zinc and scrap across the world.
The startup primarily uses satellite data from public sources such as NASA and ESA, which helps keep costs lower than competitors and provides insight on a weekly level, long before traditional information is available on the market. Such data is useful not only for providing market insight before the advantage, it also helps track regions like Southeast Asia and Africa where hardly any data is available. Hence, there is a huge demand for such data.
On the financing side, the company plans to raise another round soon, but is reportedly looking for strategic investors who also understand the industry or technology. Currently, most of the types of investors they seek are based abroad. They have already raised an angel and a fundraising fund of US $ 350,000 which has helped them launch the first products.
(The author is co-founder and COO, Tathya.Earth)