2015-03-31

AppsDaily Solutions raises Rs 100 crore in funding from Zodius capital

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

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.

Related opportunities
  • Preschools
    BibiNogs is a specialist bilingual and English language Preschool. We..
    Locations looking for expansion Bihar
    Establishment year 2023
    Franchising Launch Date 2024
    Investment size Rs. 10lakh - 20lakh
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Patna sadar Bihar
  • Digital Media & Internet Marketing
    Me-Grow is a SAAS  product developed by Markelytics, a 20-year-old..
    Locations looking for expansion Karnataka
    Establishment year 2022
    Franchising Launch Date 2023
    Investment size Rs. 2lakh - 5lakh
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Karnataka
  • Others Food Service
    People are our North Star. We aim to treat our..
    Locations looking for expansion Maharashtra
    Establishment year 2019
    Franchising Launch Date 2022
    Investment size Rs. 10lakh - 20lakh
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Haveli Maharashtra
  • Juices / Smoothies / Dairy Parlors
    Rasna – Mocktail Bar is a revolutionary venue that’s so..
    Locations looking for expansion Delhi
    Establishment year 1976
    Franchising Launch Date 2018
    Investment size Rs. 5lakh - 10lakh
    Space required 70
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads