Exclusive: CanQbate50 backs digital signage technology startup Intelisa in third deal since March
Shweta Sharma | 18 May, 2020
Senselabs Technology, a Bengaluru-based startup that offers digital signage solutions under the brand Intelisa, has raised seed funding worth $210,000 from CanQbate50, a top company official told TechCircle.
The investment marks the third by CanQbate50 since its launch in March 2020.
“We will use the funds in charting this global ambition and tap into the massive retail market of North America — primarily for business development and to build some of the key product features for this market. The team at CanQbate has been greatly resourceful in terms of knowledge, and network, and acts as a fertile incubation ground for us to explore new territories…” Intelisa co-founder and CEO Alok Dukle told TechCircle.
“These are tough times as we globally battle Covid-19. Personally to us, this investment round stands for the resilience of our entrepreneurial community, and the will to keep going,” he added.
Intelisa was founded in January 2019 by Dukle, Rahul Shukla and Anvesh Mantena.
The company claims to offer AI-driven intelligent digital signage technology that highlights products in-store and amplifies their sales, and overall retail performance.
Universal plug-and-play device solutions, offered by the company, can be attached to any television or LED screen to enable immersive engagement through real-time engagement driven marketing campaigns. The solution helps retailers to amplify sales by displaying the right offerings based on a number of parameters such as inventory, sales trends and real-time demographics.
Intelisa claims to have more than 25 patents and 50 plus international research papers and is supported by Cultiv8, an incubator funded by the Department of Science & Technology, Government of India.
“Intelisa is going to target the retail sector which was about a $615 billion market in 2019 and will continue to grow in upcoming years. We have been eyeing Indian startups which can be a good fit for the Canada market and Intelisa is one such great discovery for us,” Vijay Singh Rathore, founding partner of Nucleus Advisors said.
Launched in March this year, CanQbate50 is a joint initiative of business consulting firm Nucleus Advisors and Toronto-based incubator Venture Development Institute. Under its programme, 50 startups from India will be chosen for incubation for eight months in Canada. Each startup will receive funding of upto 350,000 Canadian dollars and get mentored by industry experts.
The incubator has a network of more than 30 investors groups, 200 HNIs and 100 mentors.