Hotline: 1800 102 2007
X
Search Business Opportunities
May, 26 2018

Location intelligence platform LifeSight gets backing from Indonesian VC firm

Since its commercial launch three months ago, the firm claims to have built a strong presence in Singapore, Malaysia, India, and Indonesia.

Singapore’s LifeSight, a location intelligence platform powered by artificial intelligence has raised $2 million (Rs 13.5 crore) in a pre-Series A round led by the shareholders of Indonesia-based investment firm Provident Capital Partners, a company statement said.

The firm will use the funds to grow its engineering and data science capabilities at its Bengaluru development centre and to expand into other Asian markets over the next two years, the statement added.

Run by LifeSight Pte. Ltd, the firm was founded in September 2017 by Rohit Maheswaran and Tobin Thomas. Prior to setting up LifeSight, Maheswaran was chief product officer at ad-tech firm Ebizu, while Thomas led sales and operations at controversial Malaysia-based e-commerce firm AskMe.

Through its software-as-a-service offering, LifeSight helps brands, retailers and agencies reach offline consumers, optimise media spend and make better business decisions. It also helps marketers use proprietary data sets to target, understand and measure consumers with their geo-behavioral AI platform.

“As long-time players of the APAC marketing and advertising industry, my peers and I often deliberated about the disjointed manner in which digital ads were being served, the outdated attribution models, and the missed opportunity for ethical, opt-in location intelligence to guide business decisions in this region. So we created LifeSight with the core aim of democratizing location intelligence with an easy to use SaaS platform,” Thomas said in the statement.

Since its commercial launch three months ago, the firm claims to have built a strong presence in Singapore, Malaysia, India, and Indonesia.

Through location intelligence, companies can derive business insights and decisions from geospatial data. Key players in the global location intelligence market include Cisco, Oracle, IBM, Pitney Bowes, Teradata Corp, Microsoft, SAP and many more.

Provident Capital’s invests in firms across industries such as telecommunications, infrastructure, mining, real estate, plantation, and biofuels. Its businesses are mostly concentrated in Indonesia. The VC firm’s portfolio comprises companies like Chinese e-commerce platform JD.com, Indonesian telecom giant Tower Bersama Group, and mining company Merdeka Copper Gold, to name a few.

Other startups that offer location-based services include HyperTrack Inc., a US- and India-based startup, which allows users to track their products in real time. The startup had Series A funds from Nexus Venture Partners and Founders Fund in June last year. Founders Fund—known for backing companies such as Elon Musk-led SpaceX, Facebook and Spotify in the past—invested in the startup from its FF Angel Fund.

Comment
Related opportunities
  • Competitive Exam Coaching Institute
    About Us: CAD DESK is a leading training network of India..
    Locations looking for expansion Delhi
    Establishment year 2007
    Franchising Launch Date 2007
    Investment size Rs. 10lac - 20lac
    Space required 700
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Cosmetics & Beauty Product Stores
    Gulnare Skincare offers skin care solutions for the socially conscious...
    Locations looking for expansion Haryana
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 270
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Home Furnishings
    About Us: Marshalls - India's No. 1 in Wall coverings since 1975 brings..
    Locations looking for expansion Maharashtra
    Establishment year 1975
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • Mobile & Communication/Internet Connections
    About Us: Rocking Deals is the ultimate destination for deal-savvy buyers..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities