Adtech startup MintM has raised an undisclosed amount in its pre-Series A round of funding from Mumbai Angels and Times Internet, it said in a statement.
The startup, run by MintM Loyalty Services Pvt. Ltd., will use the new funds for product development and international expansion.
"Traditional advertising suffers from a few handicaps â€“ it's consumed far from the point of purchase, it's impossible to do in a targeted way and it's hard to measure impact. MintM addresses these shortcomings," said Sundeep Holani of Mumbai Angels, who led the round.
The company's customer engagement platform called Magnet brings context, tracking and analytics to digital screens installed in spaces in the real and physical world.
MintM was founded by Sachin Garg, an alumnus of IIT Varanasi, in April 2013. Garg earlier co-founded mobile apps company Wit Innovation.
In the adtech space, Bangalore- and California-based Jivox Software India Pvt. Ltd, a multi-screen interactive advertising technology firm, had raised $6 million (about Rs 40 crore) from investors led by brand-tech group You & Mr Jones and its founder David Jones, former global CEO of advertising conglomerate Havas, in June this year.
In March this year, advertising-technology startup Proximit Media India Pvt. Ltd had raised $150,000 (Rs 1 crore) in early-stage funding through crowdfunding platform 1Crowd.
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