US-based search engine Google and US-based technology company Qualcomm’s corporate venturing units have helped US-based mobile voucher company ThinkNear raise $1.6m in seed financing.
Google Ventures and Qualcomm Ventures were joined by venture capital firms IA Ventures, Metamorphic Ventures, Real Ventures, ff Venture Capital, Zelkova Ventures, BoldStart VC and angel investors including David Tisch and David Cohen of TechStars, an investment club.
ThinkNear provides a technology which determine slow times for businesses such as restaurants allowing them to offer variable discounts through the mobile phones of customers.
Rich Miner, a partner at Google Ventures, said: "There is a large market opportunity to bring the world of real-time analytics to brick and mortar small businesses. ThinkNear’s technology enables merchants to increase foot traffic to their stores at any time by leveraging information relevant to their location and context."