Kloseby secures $100,000 funding from an undisclosed investor

India Infoline News Service | Mumbai | November 28, 2016 10:14 IST

Kloseby aims to bring back the focus on the offline market through the use of new age technology and innovation.

Startup Business
Kloseby a pioneering, disruptive technology startup specializing in proximity, and aimed at enhancing user experience in the offline world raised  $100,000 seed funding from an undisclosed investor yesterday. The founders have planned to invest this money in building up the technology, hardware (beacons) and  expanding the tech team, as tech is the backbone of most of the mobile application based companies. The technology infrastructure of Kloseby brings all users, retailers, banks, wallets, and businesses on a single platform, quite similar to the existing online ecosystem.

Commenting on the occasion, Gaurav Garg, Co-Founder, Kloseby said “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.”

With e-commerce taking centre stage in India, Kloseby aims to bring back the focus on the offline market through the use of new age technology and innovation. The company 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. A chunk of the funding is decided to be invested in user acquisition for mobile app (on B2C side) and merchant / client acquisition (on B2B side). Playing in a trillion dollar market, Kloseby is aiming to become a multi-billion dollar company.

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 (the logical extension of Google Maps). 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.


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