Portland, US-based Tech-Entrepreneur, Nitin Khanna, invested US $5 million in a Computer software startup iSoS Inc. This India based startup develops productivity enhancement solutions like real-time tracking & monitoring, smart attendance, security management, inventory management, cashless transactions and a lot more. This promising solution can be deployed in offices, hospitals, industries and educational campuses. Recently, the startup grabbed “Innovative Idea of the Year” award by Tiecon Chandigarh 2017.
“This integrated smart office solution will have a great impact on the productivity of the business. This business intelligence can improve operational efficiency, productivity and revenue generation. We want to transform enterprises into digital businesses and generate new forms of revenue, improving efficiency, and making new business models,” said Nitin Khanna, the CEO of investment banking firm MergerTech, Portland.
The former co-founder, Chairman and CEO of Saber Corp., Nitin became a big name in the industry when he facilitated the sale of Simple, an internet banking startup to BBVA, a Spanish bank for $115 million.
With IoT already influencing most of the industries in India, it is not surprising that many of the most renowned technology giants have invested in this sector.
Upon this, Khanna said, “I was willing to invest in Indian start-ups since long, but the only issue was to find a right one. It’s hard for startups to show up and tell their story to the world. iSoS Inc. has brought a unique idea to the industry and I believe that this smart system will be a game-changer for the companies across multiple verticals.”
Beacon application development is still in its embryonic stage, but this space will be pioneered by those who are focused on integrating beacons with web applications to offer rich interactions.
“The world we live in is becoming smarter. Our businesses need smart solutions to cope up with the present scenario. The desire of an employer to improve employees’ efficiency at work is as old as the first handmade tool; we just thought of combining the modern technological wonders with this eons old idea. iSos is a smart system for businesses that integrates the Beacon technology to simplify the work. It naturally fits and communicates in the ongoing evolution of the business world. We leverage beacons to create truly immersive, magnetic and extraordinary experiences.” said R.P. Singh, the mentor at iSos. To this the CEO, Arshdeep Brar added, “By having an investment banker like Nitin beside us, we will certainly reach heights in our space. We are pleased about the venture he has made with us.”
This smart solution seems to have a potential in gaining huge momentum in areas including healthcare, transport/logistics, education and manufacturing in the next few years.
Nitin Khanna has always shown keen interest to invest in the upcoming startups. He has met and helped a lot of startups all around the globe, but this is the first time that he has invested in an Indian Startup.