The latest business venture of the seasoned entrepreneur involves an advanced customer data platform, powered by patented AI technology.
Serial entrepreneur, Gurbaksh Chahal, is no stranger to success. Having established multiple successful businesses in the past, he is now concentrating efforts on his latest company, RedLotus. Chahal had previously founded Click Agents, Blue Lithium, and Radium One, which all have had exits worth over $400 million. He has now set his sights on further growing RedLotus, which has built an advanced customer data platform, powered by patented AI technology.
According to TechCircle, Chahal is set to raise up to $50 million for his current venture. Several marquee investors have shown a keen interest, including a Chinese-based internet giant, though their names remain undisclosed at the moment. Chahal mentioned that the funds would be used to help expedite expansion in South East Asia, APAC regions, along with a US-based launch in the ensuing year. Apart from expansion plans, research and development will be a key focus area, where a sizeable chunk of the funds will be utilized.
The primary focus of RedLotus will be to help analyze consumer behavior patterns online, facilitate a customized approach, and ultimately help brands drive real business outcomes. Chahal elaborated that RedLotus has already patented its AI-based technology platform called NeuralBank, while InfluenceGraph and RM5 Studio, are patent-pending. These platforms are designed to help identify consumer behavior patterns in real-time. NeuralBank uses word clouds to convert raw data into smart data, while InfluenceGraph helps unlock data from social walled gardens.
Chahal further explained, “RedLotus helps create a real-time customer profile assimilated through the use of disparate consumer data points. We wanted to help brands reach their customers with information that would enhance a personalized experience and facilitate meaningful outcomes." He explained that if a person of modest means is searching for a new phone, they would be targeted with a range of budget-friendly models.
Similarly, an individual from a high-income group would see advertisements for high-end phones which fall within a higher price bracket. Rather than having to wait for consumers to complete a transaction and then study their preferences, brands can now help influence consumers during the decision making process by leveraging the power of AI-based automation.
RedLotus has already built strong traction with clients such as Cathay Pacific, IBM, Microsoft, HSBC, Volkswagen, 3M, Gucci, and others. The company which is headquartered in Hong Kong has several offices throughout the globe. In its first year, RedLotus is already off to a strong start, while Chahal is busy laying a strong foundation for the future.
The digital space is continuously growing and evolving. From social media influencers to increasingly popular social media platforms, people continue to flock online to transact, interact, and make important purchase decisions. With IoT and 5G on the horizon, data is only going to get more immersive. In such a scenario, Gurbaksh Chahal is certain that RedLotus will be able to help brands change their approach with customer data while offering consumers useful information to help expedite their decision making.
Disclaimer: This is a company press release. No HT Group journalist is involved in the creation of this content.