SaaS Startup Intelitaap Raises Funding Through STARup's 'MONEY ON THE TABLE' Funding Format
The Thane-based startup Intelitaap that provides in-store analytics for retailers, has raised an undisclosed amount of funding through STARup's 'MONEY ON THE TABLE' (MOTT) Funding Format.
'MONEY ON THE TABLE' or MOTT is a new format under the STARup brand, an initiative by startup-focused growth catalyst firm ah! Ventures, where carefully handpicked early stage companies get the chance to present to investors who have only a few minutes to make their decision to invest across the table.
"Through STARup's 'MONEY ON THE TABLE' (MOTT) Funding Format we are always on the lookout for companies that can effectively make a difference in their chosen space. Intelitaap had all the credentials that we were looking for. I am personally excited to see Intelitaap make it through the MOTT format and am sure all the investors who took a call to invest in Intelitaap after just 20 short minutes of interaction will be very happy with their investment." said Harshad Lahoti, Co-founder ah! Ventures.
Founded by Sunny Harisinghani and Aniruddha Nanivadekar, Intelitaap started to give actionable analytics to the retailers in an efficient and cost effective way. It captures consumer data using sensors (installed near product shelves) flashed with its proprietary firmware. The company’s learning engine on cloud uses this data to compare the time spent on each product shelf to the goods sold. The cloud is connected to the POS & door counters (optional) which gives a clear 360 degree understanding of why something is not getting sold.
Intelitaap’s USP is that its product analyses consumer behavior inside the store without the consumer having to switch on GPS, Bluetooth, Wi-Fi or even cellular data. A dashboard helps to visualize the data and give the holistic view of the store to the retailer.
Intelitaap is a SaaS based company, so the company charges its customer on a monthly basis. Pricing depends upon the area of the store and the number of devices to be installed in the store.
Intelitaap claims that its location based technology is very scalable, time spent by consumers if detected in any physical space can provide better value proposition for industries like Retail, Stadiums, Airports, Smart Cities.
In May, FreightBazaar, a cloud based integrated B2B freight collaboration platform, has also raised a pre-series A investment through ah! Ventures. And in February, ah! Ventures had invested pre-series A funding in Bengaluru-based Corefactors, an integrated multichannel marketing, communication & sales platform for SMB and campaign management platform for corporates. Other startups that are also included in ah! Ventures’ investment portfolio are such as iDreamCareer, AHA Taxis, Chai Garam, Wigzo, Unocoin, Shirsa, Ketto, TestBook and Logic Roots among others.
