Tech start-up AdStringO Software raises $350K from IAN

IAN has announced its investment of $350k in AdStringO Software, a Mumbai-based mobile compression software company. The investment round was led by IAN investor members Arihant Patni, Vishal Khare and Viswanath Ramachandran.

AdStringO Software will use the investment to strengthen the research and development team in order to discover other new useful possibilities and further build on its advanced and robust technology solutions as well as increase marketing awareness about this revolutionary product.

AdStringO endpoint compression helps enterprises penetrate the rural market by providing solutions that enable ease in the on-boarding & servicing of customers.

AdStringO Software comes in at a time when corporates are going digital and tapping the most unexplored markets in rural India. With Digital India is aiming to build digital infrastructure to cover entire rural India by 2019, data will be central for this happen. At a time when India’s telecom infrastructure is still to get robust enough to provide 3G and LTE services, the hinterland is increasingly getting on the internet with 1G and 2G networks. This is where AdStringO Software plays an important role of providing disruptive technology for rural markets, on the existing infrastructure.

Vishal Khare, lead IAN investor in AdStringO Software, said, “Indian Angel Network, looks to great high growth ventures by bringing money, mentoring and market access. We believe that AdStringO’s potential is to revolutionise the digitisation and transmission of data on the mobile for the large rural market. Its innovative compression technology ensures high quality data transmission from all categories of mobile devices. Truly life changing!”

Mohan Chandrasekaran, Co-founder and CEO, AdStringO Software, said, “We understand the challenge that not only Indian companies but even leading global enterprises are facing to find in-roads to the hinterland in India. Under the mentorship of some of the most experienced investors associated with the Indian Angel Network, we plan to quickly scale up and create a global proposition that can address this issue across levels.”

AdStringO Software was co- founded in September 2014 by Mohan Chandrasekaran and Sankar Mahalingam. Mohan brings deep experience of over 18 years of Technology & SME both in India and overseas. His last stint was with Reliance Capital as a CTO and is a CIO 100 Indian & Global Honoree.  Sankar has over 12 years of experience in the areas of software development, architecture and support and together they are a complementary team backed with a senior leadership team which has worked for years at Reliance Life Insurance & Reliance Capital.

Viswanath Ramachandran, IAN investor, AdStringO Software, said, “Indian Angel Network has always given equal importance to the team and scalability of the venture. Along with AdStringO’s disruptive solution, the team- Mohan and Sankar bring enormous amount of experience and domain knowledge of the space. We see great opportunities for AdStringO not only in India but also overseas.”

The company’s growth plans includes expansion to other emerging countries where connectivity is a challenge for managing data.