Navigation firm Intents Mobi has raised $181,775 (around Rs 1.5 crore) in an extended bridge funding round from The BarberShop with Shantanu - Raiser’s Edge.
The fresh proceeds will be deployed for growth and expansion.
Founded by Tabrez Alam, Naresh Kumar Kachhi, Balasubramaniam S and Prakash Velusamy in 2020, Gurugram-based Intents Mobi is a community-driven navigation platform offering real-time road condition alerts.
The company claims to leverage a network of ‘scouts’ who contribute to the data generation for location intelligence. It counts Here Maps, TomTom and Honda, among others as part of its client portfolio.
“We shall invest in the two aspects of the product, which are data and solutions. With this round, we expect to launch two new products that are aimed at making location intelligence accessible to market research and fleet management companies,” said Alam.
In 2021, Intents Mobi raised $600,000 in a seed funding round from Auxano Capital, Globevestor, Artha99 and DevX Venture Fund. Last year, the company secured $1 million in a bridge round from DevX Venture Fund, Unnati Labs and angel investors Amit Lakhotia (Park+), Shridhar Gupta and Vidit Jain (LocoNav), Akshay Gupta and Shubham Sharma(Quixote) and Ranjan Kant (Arthmate).
The BarberShop with Shantanu - Raiser’s Edge is a podcast-cum-startup enabler platform started by male grooming brand Bombay Shaving Company’s founder and chief executive Shantanu Deshpande. In an earlier interaction with VCCircle, Deshpande said that they plan to invest in around 15-20 startups via the enabler platform with a ticket size range of Rs 50 lakh to 2 crore.