Ideacts Innovations has announced that the company had received $5 Million in funding from Sequoia Capital; There’s a mention of the funding having taken place in November 2007, but they’ve only just announced it. The company has also launched a desktop application called CLINCK targeting cybercafes, which, according to the company, provides access to Internet applications – Internet Explorer, Firefox, Yahoo Messenger, GTalk, Windows Live Messenger etc, while monetizing the application with advertisements on the side.
To put it simply, CLINCKS appears to be the application that powers the access to Internet services at Cafes, serving as the desktop for Internet access users. While at first sight, it might appear that there is no real need for such an application, the opportunity is there perhaps for the cybercafe owners to earn some additional income by getting a revenue share from the advertisements. (note: we haven’t confirmed this with Ideacts yet. Will update).
CLINCK has, as per the release, already showcased over 75 Brand Campaigns for advertisers like Cadbury, Perfetti, Naukri, MakeMyTrip, Dell, Yahoo, Guruji, Radio Mirchi, Lenovo, eBay, etc. According to the release, around 36 percent of Internet access in India is via Cybercafes.
However, one worrying factor is this very dependency on Cybercafes – if the Cybercafe market is going to grow at a fairly small pace – of just 8 percent per year, it will essentially cap the opportunity for CLINCKS. Ideacts will have focus on adding to its product portfolio, and another revenue stream. At present, however, they’re focusing on expanding beyond their existing market of 8 cities – Bangalore, Mumbai, Delhi, Chennai, Hyderabad, Pune, Ahmedabad and Chandigarh, into B & C tier cities.
Ideacts was founded in March 2007 by Rudrajeet Desai, Maninder Gill and Saurabh Khullar (details here). R. Ramaraj and Mohit Bhatnagar from Sequoia have joined the companys Board of Directors. Interestingly, serial entrepreneur Alok Kejriwal is a part of the companys board of advisors.
Update: The opportunity for ideacts lies, in my opinion, in powering kiosks, particularly the rural kiosks being set up by the Indian government. However, its anybodys guess about when those will be implemented.