Other investors in the round included Alok Mittal, Dharamveer Singh Chouhan, and Shubranshu Pani.
The funding will be used to develop the company’s idea of a ‘smart store’ that would cater to its growth and management.
Founded in April 2015 by Saurabh Moody, Arjun Sudhanshu, and Preksha Kaparwan, Realbox is a Google Analytics-like application for offline businesses, with a flagship product called PULSE.
Realbox uses predictive analysis to decrease risk, lower costs, and improve customer service. It helps businesses to analyse processes in real-time, raise trigger if the performance goes down, create and manage customer profiles and use it to for targetted marketing. It helps building customer profiling for restaurants and a specialised CRM to target customers better.
Saurabh Moody, co-founder and CEO, Realbox said, “Our mission is to make offline businesses intelligent. With the investment on board and enhanced capacity, in addition to the large corporate clients that we currently serve, we are targetting to introduce “Smart Store” to over 5,000 outlets including movie theaters, retail, and hospitality businesses in the next 18 months.”
As per an official statement, Pulse has been used by various clients such as PVR Director’s Cut and Australia’s juice chain JOOST among others. Pulse can be currently used in movie theaters, retail businesses, restaurants, and hotels.
Talking about their product Pulse, Preksha Kaparwan, co-founder and CMO, Realbox said, “Our flagship product PULSE, which is an intelligent business dashboard can be installed on top of any existing POS, enabling businesses to use data analytics without changing their existing technology. This proprietary technology is capable of connecting to any business management software and can generate real-time actionable insights thereby helping the management in better decision making.”
In November 2015, Realbox was selected as one of the 20 finalists of the Business World’s accelerator programme, BW Accelerate’s, second batch. It was also one of the 15 winners of IBM Smartcamp Delhi Regional finals.