ProximiT, a Pune based startup announced that it has raised Rs 1 crore ($150,000) in early stage funding via 1Crowd, a crowd funding platform which was launched in late 2015. The funds will be used to expand the startup's footprint in Pune and other cities.
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(37), Yash Mutha(35) and Kamlesh Sancheti(35) founded ProximiT, which is now a 16 member team. The startup provides proximity based advertising in auto-rickshaws in Pune and helps brands and consumers connect with each other. They do it with the help of tablets installed in auto-rickshaws that display feature rich content-static images, audio-video ads and ads triggered by geo-location.
With this approach ProximiT is able to collect a lot of data and based on how different users interact with the tablet provide insights to brands about which ads are the most effective. Anil Gudibande, Co-founder of 1Crowd added that 1Crowd had co-invested alongside its investor members. The startup has also been able to add 10-15% to the income of auto-rickshaw owners. Abhay– Founder & MD, ProximiT said, “The Indian start-up ecosystem continues to expand and break new ground, with crowd funding becoming a viable alternative to conventional sources of capital."
Talking to YourStory, Abhay mentioned that getting 'touch' into the picture through tablets and their backend analytics, opens up a pandoras box of possibilities that helps advertisers improve their content. He said,
With Riky, we are able to track the entire lifecycle of a campaign on where it was shown and have call to action buttons for end users. Brands can also introduce gamification and plug in surveys as needed. This leads to increase in ROI.
Abhay claims that the tablet includes an intelligent mix native and online content, to cater to Indian infrastructure. ProximiT's current plans include rapid expansion in the auto sector and in the future they aim to go after cabs and mass transit transport options, where they can include interactive dynamic ads.
Proximity advertising has so been in the limielight in the recent years with the avent of iBeacon technology and the emergence of more powerful smartphones. A Business Intelligence report estimated that beacons would directly influence over $4 billion worth of retail sales in the United States in 2015. Some interesting players in this space include Kochi based Nearals and Bengaluru based Mobstac.
But ProximiT is currently going after this market relying on geo-location and focusing on auto-rickshaws currently and it will interesting to see what further features and integrations they add in the future.