Olvin, a real-world analytics platform for the drinks trade, announces today that they have secured a £1.6m seed round of investment. The round was led by Brainchild Ventures, a new venture capital fund, and Novator Partners Chairman, Thor Bjorgolfsson.
The news comes as they announce the leading industry figures who will comprise their board of advisors. Bjorgolfsson takes a seat alongside Brent Hoberman of Founders Factory, Alexander de Carvalho of PUBLIC, and Guy Wollaert formerly of Coca Cola.
Olvin’s free to use platform analyses location, demographic and behavioural data to give drinks venues and brands a clear view of what’s happening in the real world. This data drives the platform’s venue analytics and behaviour-led consumer insights. Businesses can then use these insights to create specific custom audiences that can be targeted through digital marketing platforms.
The company is just the latest addition to Britain’s burgeoning tech scene, and harnesses innovations in big data and machine learning to help drive their analysis and revolutionise the drinks industry.
“We’ve seen how web analytics platforms can provide a tangible boost to digital-led businesses, but that’s not much help to an industry that exists almost entirely in the real world” said the company’s founder and CEO, Sam Amrani. “That’s why we created a product that would map out the physical world in the same way that products like Google Analytics have done with tremendous success in the online space.”
The company is looking to replicate the successes that industries such as retail, finance and manufacturing have had with machine learning. Their aim is to use big data to help the drinks trade win big.
“The drinks trade is an incredibly fragmented industry, which is why Olvin’s behaviour-led data is so important for brands to connect directly to their consumers” said Amrani. “The platform also enables small businesses with modest marketing budgets to reach the audiences that matter most to them, without having to spend the earth”.
Helping them fulfil this mission are leading figures from the drinks and tech industries. Their board of advisors include Thor Bjorgolfsson, head of Novator Partners which specialise in supporting tech start-ups, as well as Brent Hoberman, co-founder of MADE.com and lastminute.com. Bringing expertise from the drinks industry is Guy Wollaert, formerly of Coca Cola, and Alexander de Carvalho, director at Heineken.