Exclusive: SaaS-based firm Applop raises bridge round from GHV Accelerator
Applop Mobile Solutions Pvt. Ltd, a software-as-a-service provider that enables users to make their own mobile app, has raised a bridge round of funding from existing investor Green House Ventures Accelerator, co-founder Rahul Singhal told TechCircle.
The Gurgaon-based startup has received nearly $250,000 (Rs 1.6 crore) so far and is seeking to close this round at $500,000, Singhal said. He added that a Bangalore-based angel investor also participated in this round.
The startup will use the fresh capital for technology development and expanding operations to Southeast Asia. A part of money will also be used for marketing and brand building.
Launched in July 2015 by Singhal and his wife, Jyoti Singhal, Applop is a mobile app that enables smartphone users to create and customise their mobile apps without any coding.
It assists business owners in providing text-based solutions, digital marketing and payment integration solutions. Applop claims it has helped create about 900 mobile apps till date for its users and almost half its users are paid customers. It claims to have added nearly 3,000 clients on its platform. As of June, the startup claims to have generated revenue of Rs 45 lakh.
"The world is going to bet high on the Indian mobile app industry. There has been a paradigm shift from dotcom to apps, as users shift from desktops to smartphones," said Vikram Upadhyaya, chief mentor and accelerator evangelist, GHV Accelerator.
The startup, which is also a part of Nasscom Startup Warehouse, had last year raised $100,000 funding from GHV Accelerator.
Rajat Tondon, senior director at NASSCOM 10,000 Startups, said Applop will benefit from the growing need for mobile apps owing to better smartphones and Internet penetration.
Gurgaon-based GHV Accelerator mentors startups and provides $100,000 in seed funding. In February, it had invested $100,000 each in personal stylist app IStyleYou and ad network AdUrCup. It has previously invested in car rental platform My Taxi India, food-tech startup Foodport, online laundry services provider PickMyLaundry and FitMeIn, an online platform that provides access to multiple fitness studios for a monthly membership fee.
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