Delhi-based retail solutions provider, Freedom Smart Labs Ltd., has raised around $145K (INR 1 Cr.) in seed round of funding from Kapil Goel, managing director of retail chain DCS Group.
Serial Entrepreneur, Yogesh Huja, founded Freedom Smart Labs Ltd to provide IoT innovation in retail. Its wifi-based retail solution product Freedom.desi is designed to help retail outlets re-target customers, monitor & boost footfall, and provide retailers solutions for in-store engagement.
The product establishes a unique consumer & merchant engagement using IoT Sensors, Beacons and Geo Fences.
Freedom.desi is focused in IoT & M2M domain and have set up global partnerships with hardware suppliers. With this product, the company is looking to give offline retailers an edge in the ecommerce world by reviving brick-and-mortar stores with the help of IoT. They claim to boost the sales of retail outlets by three times.
Yogesh Huja, founder of Freedom Smart Labs, said, “Currently we have deployed this at 21 malls in and around Delhi-NCR. We are also offering mall management software and assist features for customers who have the app and step into a mall. They can search for wheelchairs, use the lost-and-found assistance, and more.”
The company is in talks with malls in Dubai and Turkey to provide their full suite of solutions.
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