Qvivr raises $1M in debt financing for Internet of Things retail analytics

Qvivr is an early-stage startup created by a couple of Ph.D.s “with a cool idea that is going to revolutionize the world,” as the company’s website puts it.

Revolutionize the whole world? Wow. No pressure.

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The founders of Sunnyvale, Calif.-based Qvivr aren’t providing much information about how they’re going to do this or what they’re building, other than to say that their product lies at the intersection of the Internet of Things and retail analytics. “We are singularly focused on one thing — uncluttering and simplifying people’s lives,” the company says in a post on ziprecruiter.

The startup has now raised a $1 million round of debt financing, according to a filing with the Securities and Exchange Commission (SEC).

VentureBeat spoke briefly on the phone with CEO Ashutosh Dhodapkar, but he would say only that the company will come out of stealth in early January. He would give no further information on the funding round, nor would he give specifics about his company or products.

Other information sources suggest that Qvivr is developing a piece of wearable hardware. On Dhodapkar’s LinkedIn page, he writes that his new company will be “revolutionizing the mobile ecosystem with a new breed of wearable devices.”

And that wearable will probably be used to gather retail shopping data of some kind, on which Qvivr will run analytics. In a job posting for a “Full Stack Ninja,” the company writes the winning candidate will “define the framework for predictive analytics, which is the cornerstone of the company’s technology offering.”

VentureBeat will reconnect with Qvivr in early January to find more about what they’re doing.