We quote from the ET –
Belgaum-based SenseGiz has raised about $12,000 (Rs 7 lakh) for its tracker device within 72 hours of featuring themselves on the Kickstarter platform. “This campaign is a great validation for the product before going through with sales,” said 26-year-old cofounder Abhishek Latthe, who has started shipping his product on a small scale.
The company’s device, FIND, communicates with a mobile app and can be stuck or tied to items like keys, wallets, bags and even pets. SenseGiz expects 50,000 international units of his device to be shipped this year. “With crowdfunding platforms coming into the picture, a lot more people are open to backing such startups, even on an international scale.”
SenseGiz’s crowdfunding campaign on Kickstarter has also commanded the interest of venture capitalists such as Blume Ventures, Intel Capital and Kleiner Perkins Caufield & Byers. VCs have so far waited on the sidelines to see how the Internet of Things space will play out before stepping in. Latthe was told that the company might get funds if it shows consistent revenues from the product for about three months.