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2013-08-31

NowFloats raises second round of funding from Blume Ventures and Mumbai Angels

Technology start-up NowFloats has received second next round of funding from Mumbai Angels and Blume Ventures and a few individual investors but declined to disclose the amount of funding.

Technology start-up NowFloats has received its next round of funding from Mumbai Angels and Blume Ventures and a few individual investors but declined to disclose the amount of funding.

 

Jasminder Singh Gulati, Co-founder, NowFloats, says, “The investment will help us scale, improve customer engagement and keep our product ahead of the curve".

 

Nowfloats is a Hyderabad-based technology company, founded in 2012, having a motive of helping small and medium enterprises (SMEs) to create an online presence through a basic SMS. They claim that SMEs can create a website in 13 minutes with just four text messages. 

 

Nowfloats has earlier rasied a small amount of funding from Bangalore angels and few senior industry leaders in June 2012

 

So far other ventures that help small businesses create websites online include international companies like Google and GoDaddy. Others but most of these platforms require users to have a computer to create a site and Nowfloat is different from them.

 

A recent study of industry body FICCI along with Google showed that only 5% of Indian SMEs have online websites. And the web enabled small businesses get significant advantages.

 

Online businesses had 51% higher revenues, 49% more profit and 7% broader customer base than offline companies. 

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