Welcome Guest

Businessex.Com
Home News AppsDaily Solutions raises Rs 100 crore in funding from Zodius capital

AppsDaily Solutions raises Rs 100 crore in funding from Zodius capital

Tags: AppsDaily Solutions, Zodius capital, retail distribution channel, Mobile Apps, venture capital, Kalaari Capital, ru-Net Ventures, Qualcomm Ventures

March 31, 2015 | COMMENTS ( 0 )

AppsDaily Solutions raises Rs 100 crore in funding from Zodius capital

AppsDaily Solutions, a retail distribution channel for selling Mobile Apps, has raised Rs 100 crore from Zodius Capital.

The round saw the participation of venture capital investors Kalaari Capital, ru-Net Ventures and Qualcomm Ventures.

AppsDaily Solutions is founded in the year 2009 by Arun Menon and Ajay Menon. Arun Menon is an IIT Bombay graduate with 15 years of experience in marketing products in the mobile internet space. Ajay Menon, having 18 years of entrepreneurial track record have successfully run three diverse businesses.

The seven years old venture pivoted its vision on the growth of smartphones which is projected to reach over 500 million customers in India by 2018. Today, the mobile app company operates in 400 plus cities, with more than 400 distributors, 10,000 plus outlets and 2500 plus In store demonstrators.

"We have more than 2 million happy customers, most of whom took their first step into the world of apps through us," said Arun Menon.

"We intend to expand our channel to more than 1000 towns and more than 100,000 outlets in the next 2 years. We have many exciting products across education, healthcare, entertainment and protection coming up," said the other co-founder, Ajay Menon.

What works for consumers with AppsDaily model is that they can come back to the store if they have any problem, unlike Google or Apple app stores which only have a virtual presence.

"AppsDaily is in a market defining position providing mobile applications to the fast-growing India-wide smartphone customer. They provide a very important bridge to the Indian digital consumer who wants access to best-inclass services but is still grappling with bandwidth availability and cost issues," said Gautam Patel, Zodius Capital.

Zodius invests in India-centric businesses targeting the Enterprise Software & Services, Big Data and Analytics and Consumer Mobile or Internet markets.

"The strong advisory team based in Mumbai adds significant domain expertise, operational experience and global networks to the portfolio companies in order to develop them as highly valued market leaders in both Indian and global markets. The portfolio is supported by an experienced and cohesive advisory team, which has worked together for several years in a combination of investing and operating roles," said Zodius.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....