Get-together app Moodoo gets seed funding from University of Oxford
Get-together app Moodoo has raised £20,000 (around $28,000 or Rs 19 lakh) in seed funding from the University of Oxford's SaÃ¯d Business School Seed Fund.
Moodoo, run by UK-based Moodooapp Ltd, is slated for launch in India this month while the UK launch is slated for February, it said in a statement.
Moodoo was one of the three applicants selected for seed funding by Oxford's SaÃ¯d Business School Seed Fund which invests in early-stage, alumni-founded startups.
Moodoo is co-founded by Lucy Gadkari and Vaibhav Sinha. The startup also counts Arjun Gadkari, president of Mumbai-based sauce maker Nilgai Foods as its advisor, and has an India office in Mumbai.
The app enables spontaneous meet-ups by helping users discover friends nearby who are in the mood for doing similar things. It tries to enable people to meet up more often and spontaneously.
Moodoo will be rolled out on both Android and iOS platforms.
"Technology is increasingly streamlining the world around us today, and making us more 'connected' than ever. But we believe that nothing can replace sharing experiences in person. With Moodoo, our intention is to make that happen more often, more spontaneously and more simply," said Lucy Gadkari, co-founder and CEO of Moodoo.
A graduate of University of Oxford, Gadkari worked with retail and brand consultancy firm FITCH and advertising agency M&C Saatchi before launching Moodoo. Sinha, an IIT-Delhi graduate, worked with BlinkGreen Victoria Albi Cosmetics, MaxTech Resources, and PhiStream Consulting in the past.
Moodoo will compete with community solution providers such as Explara, 123Signup and Meetup in the Indian market.