12 July 2016, India :
MintM has raised its pre-Series A funding to develop the company into global platform. This funding was co-led by Mumbai Angels and Times Internet. According to the company statement, the fresh funds will be utilised for making the product more intelligent and for expansion in international markets where Magnet is witnessing significant traction.
Sachin Garg, CEO of MintM and the brain behind Magnet said, “This platform has been described as a peep into the future by prominent people in the industry. It gives me great pleasure to provide a solution to advertising that is not just displaying relevant content but also responding to the people who are in front of it, tracking their response and ultimately generating valuable statistics for the advertiser to compare and compile.”
Garg added, “The fact that Magnet can analyse its audience, respond to them and allow the ability to be run remotely on a cloud has been greatly appreciated. If I have to put it in simple words- Magnet is installed on a screen that is looking at you- real time, responding to you and gathering feedback, all at the same time, without intruding your privacy! This kind of contextual advertising was earlier only possible online. All this just using a friendly app that makes it look like a game, except it’s as real as it gets.”