Indonesia’s largest point-of-sale (PoS) provider Moka has acquired an innovative Mumbai-based retail-tech startup GetFocus for an undisclosed amount, announced GetFocus through its website. With this acquisition, Moka will look to combine synergies with the Mumbai-based startup to strengthen its technology capabilities and leadership.
Founded in 2013, GetFocus uses indoor navigation technology that utilizes existing hardware, like WiFi and mobile phones, to accurately locate consumers inside indoor locations such as malls, shops, airports, warehouses etc.
GetFocus offers an SDK that app developers integrate into their apps. It identifies the real-time location of the users and relays it to the app developer, who can then use this information to send notifications, change the UI of the app, perform business intelligence etc. The company claims its solutions have a total download base of 10 million end-users.
The startup that sounds very innovative managed to raise only one round of funding since December 2015, according to Crunchbase data.
Founded by IIT Bombay graduates, Prateek Chaturvedi (ex-Deutsche Bank), Manoj Gudi (ex-Aakash Tablet) and Aditya Misra (ex-A.T.Kearney), location based mar-tech startup GetFocus had last raised funding, from angels, in December 2015.
Interestingly, Moka’s India Technology Centre is being set up in Bengaluru by Chaturvedi and aims to double its workforce by December. Besides Moka, another Indonesian startup, Go-Jek also has its engineering facility in Bengaluru. GoJEK is planning to launch its bike-taxi service in India in the second half of this year.
Moka, on other hand, has recently raised $24M from Sequoia Capital India in mid of last month, and so far has raised a total of $28M in funding over five rounds from investors including Softbank Ventures Korea, EDBI, a Singapore-based global fund and Jakarta-based Mandiri Capital Indonesia, a corporate venture firm, among others.
Commenting on the acquisition, Moka CEO Haryanto Tanjo said, “Moka has been growing very rapidly in the past and we have more than 12,000 merchants using our services every day. We realised the need to have a very strong technology and research arm in India and acquiring GetFocus will help us strengthen our technology excellence and leadership and bring the best services for your customers.”
Founded by Haryanto Tanjo and Grady Laksmono, in 2014, Moka provides an end-to-end POS and payment solution that caters to small and medium businesses in Indonesia. The service includes an Android/iOS app used by store cashiers and a web back-office that allows store owners to access data such as sales reports, inventory, and customer feedback in real-time.
[Top Featured Image – Moka Founders – (L-R) Grady Laksmono and Haryanto Tanjo]
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