SOIL Alumnus Kumar Abishek’s -Tone Tag Gets Funding of Dollar 1 Million

Some start up with a bucket of dreams!

School of Inspired Leadership (SOIL) Alumnus, Kumar Abhishek is certainly one of those dreamers who is using technology to make things better. Tone Tag, Abhishek’s brainchild, is a global offline proximity based mobile technology startup which has raised $1 million dollars in funding from Reliance Capital’s Venture fund arm.  The fund will me mostly utilized in initiating technical activities and for hiring sales and marketing resources, according to Tone Tag VP and Business Development Head Himanghna Dey Sarkar.

Founded in 2013, Tone Tag has enabled contactless payment solution by integrating its proprietary software development kit (SDK) at both merchant (mobile, POS, EDC) and Customer Interaction points (M-Wallet, M-Banking apps). Thus, it makes it convenient for consumers by enabling them to make payments directly from their mobile phones, using their prevalent M-Wallets or M-Banking apps.

In the words of Tone Tag CEO Abhishek, ‘Our technology is providing tools to all stakeholders – issuers, acquirers, merchants and consumers to realize frictionless in-store and in-app mobile payments’.

No wonder this novel innovation has managed to garner a fair bit of attention from investors who were keen to make Abhishek’s dreams come alive. With the wishful camaraderie of Vivek Kumar Singh, Abhishek, a former Infosys employee, took his dreams of redefining the payment ecosystem towards realization. Of course people like Ram Sellaratnam and Rajesh Yohahanna came on board with the much required financial provision to drive the innovation further.

They say, bigger the dream, bigger the motivation! Abhishek’s vision definitely transcends boundaries as he expects to reach one lakh merchant devices within a period of six months.  An alumnus of the School of Inspired Leadership (SOIL), Abhishek has exhibited the traits of a true leader with a will to change the face of technological innovation. His endeavor reflects his passion and sentiment which he has gently nurtured to make a difference for a tech friendly world. Abhishek’s achievement is not only awe inspiring but a pillar of impetus for all future leaders with fiery passion of innovation in their hearts.

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