Kloseby raises $100,000 seed funding from an undisclosed investor

By : |November 28, 2016 0

Kloseby, a technology startup specializing in proximity and aimed at enhancing user experience in the offline world raised $100,000 seed funding from an undisclosed investor.

Kloseby, which works on an online to offline (O2O) marketing platform connecting the consumers and merchants, was co-founded in 2016 by Gaurav Garg, an IIM Kozhikode alumnus, who handles the business affairs and Rahul Sindhu, who is the technical maverick of the team.

The founders of the company have planned to invest the fund in building up the technology, hardware (beacons) and expanding the tech team. A part of the funding will be invested in user acquisition for mobile app (on B2C side) and merchant/client acquisition (on B2B side).

“When we started, we knew the biggest challenge for us would be to convince others to believe in our vision, as what we are doing is quite unconventional. But, we are overwhelmed with the response which we are getting from our users and our clients. This investment will definitely help us in moving forward with our plans,” Gaurav Garg, Co-Founder, Kloseby said.

The technology infrastructure of Kloseby brings all users, retailers, banks, wallets, and businesses on a single platform, quite similar to the existing online ecosystem. Kloseby’s services are available through its Android app

Kloseby enjoys the first mover advantage, as its platform covers both B2C and B2B aspects of the business. In the B2C segment, Kloseby helps improve in-store user experience, helps users save and earn money, provides the single largest discovery platform for in-store deals/offers/discounts etc., and enables indoor navigation.

In the B2B segment, Kloseby helps retailers, banks, and companies to improve customer engagement and leverage proximity infrastructure for increased visibility and marketability of products and services.
Kloseby has big plans for the future, as the proximity marketing market is expected to be worth USD 52.46 billion by 2022, growing at a CAGR of 29.8 percent between 2016 and 2022. As per latest ResearchMoz report, the global Bluetooth beacon devices market is expected to grow at a CAGR of 222.8 percent by volume during the period 2016-2020.

In the next 3 years, Kloseby is targeting to acquire 10 million+ users, create a proximity network of around 50,000+ beacons in 20 cities in India, and achieve USD 1 billion revenue, with profitability.

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