Home Funding Realbox sacks USD 300K in Pre-Series A round as TechSparks Tech30 finalist

Realbox sacks USD 300K in Pre-Series A round as TechSparks Tech30 finalist

Realbox sacks USD 300K in Pre-Series A round as TechSparks Tech30 finalist
Team Realbox

TechSparks is an event offering extensive exposure to startups and bringing them to different community stakeholders. The most significant step to establish a startup is to secure capital and that’s exactly what you can do at TechSparks. TechSparks Tech30 alumni have succeeded in receiving more than 650 million USD in risk capital from the key investors in the past 7 editions.

In just 1 week of being at TechSparks 2016, Realbox declared that they had raised USD 3 lakh dollars Pre-series A round. Hyderabad Angels had led the round. Alok Mitta, ex-MD of Canaan Partners, Dharamveer Singh Chouhan, Zostel CEO and Shubranshu Pani, Director of JLL and vCommission participated in it.

Realbox basically makes use of business intelligence and predictive analysis tools in order to enable offline businesses to generate more revenues and reduce risk. It was a startup that was initiated by Saurabh and Arjun Sudhanshu to help the hospitality sector. According to Preksha Kaparwan, a restaurateur who they met, 80% of the day was wasted in matching the operations with the right data instead of running the restaurant and creating an experience for the customers.

The trio got together to solve this challenge and developed Realbox Data Analytics. Saurabh is an entrepreneur and an alumnus from Microsoft with an experience of more than 17 years in the integration of engineering and data sciences. Preksha is responsible for the product design and staff training and Arjun is an expert in data mining and POS integration. Realbox has managed to attract 5 large customers from B2B space with PVR as their most important customer. Revenues come to them in the form of one-time setup fee and a recurring charge every month.

Pulse is the flagship product of the company that offers business summaries and key performance indicators to the decision makers on their mobile devices in real time. As a result, businesses can keep their operations under control. It can be availed as a multi-user, multi-store application and a minimal additional license fee is charged for every store. The company currently makes up to 2-3 crores INR per annum.