Digital Marketing Startup MintM Gets Pre Series A Round from Mumbai Angels and Times Internet
The funds will be used for making the product more intelligent and expanding its already fast-growing international markets where Magnet is witnessing significant traction.
In the era of digital innovations, a cutting-edge solution for advertising is bridging the huge gap in the brick and mortar world which was earlier possible only online. MintM, a startup which is a straight comparison to the Google ads has come up with a crowd pulling platform - Magnet, a cloud based, responsive, and analytical solution in the brick and mortar world. Given the disruption it has brought in the retail sector, it is no wonder that Magnet has been raising eyebrows and gaining well meaning interest.
Sachin Garg, CEO of MintM and the brain behind Magnet says "This platform has been described as a peep into the future by prominent people in the industry. It gives me great pleasure to provide a solution to advertising that is not just displaying relevant content but also responding to the people who are in front of it, tracking their response and ultimately generating valuable statistics for the advertiser to compare and compile."
MintM has recently raised its pre Series A funding to grow its smart signage platform Magnet across the world. This funding was co-led by Mumbai Angels and Times Internet following MintM's step out from TLabs, the leading startup accelerator. The funds will be used for making the product more intelligent and expanding its already fast-growing international markets where Magnet is witnessing significant traction.
MintM has come a long way and has bagged a lot of awards and recognitions through it’s journey. It was among the top 50 start-ups by TiE Silicon Valley and was also NASSCOM Emerge Top 50 most promising start-ups. The company has the world's first smart signage platform - Magnet which sees and responds to people. This cloud based platform is a simple app that brings the capabilities similar to online advertising to the physical world. Much like a digital advertisement, Magnet's signage software brings context, tracking and analytics to any digital screens installed in spaces in the real and physical world. A lot of leading retailers, banks, brands, salons and spas are already using Magnet to increase the engagement with their audience, measure it along with the revenue generation possibilities.
Garg says "The fact that Magnet can analyse its audience, respond to them and allow the ability to be run remotely on a cloud has been greatly appreciated. If I have to put it in simple words- Magnet is installed on a screen that is looking at you- real time, responding to you and gathering feedback, all at the same time, without intruding your privacy! This kind of contextual advertising was earlier only possible online. All this just using a friendly app that makes it look like a game, except it's as real as it gets."
Magnet provides an unparalleled level of engagement as compared to online channels with many of the customers getting around 20X engagement as compared to 1-2% by other platforms. The adoption of this technology can be seen in big branded outlets like Aviva Insurance, Star bazaar, Jawed Habib, Spar, HyperCITY, Printo and many overseas outlets including Target, the retailing giant. Several brands and advertisers like Harpic, lizol, L’Oreal, Tata tea, Himalaya use it to engage customers regularly.
Sundeep Holani, the founder & CEO of India’s leading shopper marketing company Channelplay is one of the investors in MintM. In the words of Sundeep – “Traditional advertising suffers from a few handicaps – it’s consumed far from the point of purchase, it’s impossible to do in a highly targeted way and it’s hard to measure impact. MintM beautifully addresses all these shortcomings… and ushers in the digital age’s analytics driven, pay per view model into the old-fashioned retail world. We’re very excited about the possibilities this creates!”
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