KARSEMVEN Lifts Up Wearable Tech Startup SenseGiz, Invests $500K

KARSEMVEN Lifts Up Wearable Tech Startup SenseGiz, Invests $500K

Belgaum-based SenseGiz, known for being one of the earliest smartwatch makers in India, has raised $500K from Karnataka Semiconductor Venture Capital firm (KARSEMVEN).

The secured funds will help the startup to boost its marketing activities, foray into new product development and expand its team.

According to Abhishek Latthe CEO and founder of SenseGiz, for hardware startups, it is more difficult to raise the initial amount than to raise the subsequent rounds.”We are manufacturing this completely in India. That’s why we got the funding,” said he.

The startup plans to sell around 1 lakh units by next year, all of which are poised to be manufactured at its Mysore unit.

SenseGiz is in the business of designing and producing innovative products in the wearables & IoT space. It, currently, manufactures two products – FIND, a device tracker which has sold 20000 units till date and STAR, a smartband which has sold 3000 units. The products are sold via the US-based retailers like Target, and currently, available in the US and Japan markets.

Both of these devices can be paired up to one’s smartphone via Bluetooth Low Energy protocol. According to the company, its USP lies in the various formats. During an emergency, the devices send out triggered notifications to concerned people of the smartwatch users. It also sends out an audio recording (a minute or two’s duration) of the event and allows for emails to be sent as well.

According to the US-based Allied Market Research, the smartwatch market is expected to reach a whopping $32.9 Bn by 2020. Keeping this opportunity in mind, SenseGiz is now planning to expand into the B2C (business-to-consumer) segment after tapping the B2B (business-to-business) market for the last two years.


Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.


Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

KARSEMVEN Lifts Up Wearable Tech Startup SenseGiz, Invests $500K-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

KARSEMVEN Lifts Up Wearable Tech Startup SenseGiz, Invests $500K-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

KARSEMVEN Lifts Up Wearable Tech Startup SenseGiz, Invests $500K-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

KARSEMVEN Lifts Up Wearable Tech Startup SenseGiz, Invests $500K-Inc42 Media
KARSEMVEN Lifts Up Wearable Tech Startup SenseGiz, Invests $500K-Inc42 Media
You’re in Good company