Business communication platform AppSay, which is operated by Custmore Interactive Solutions Pvt. Ltd, has raised $150,000 (Rs 1 crore) in its first round of funding from seed investment firm Venture Catalysts, it said in a statement. The round was led by angel investors Shreyans Shah and Mayank Shah.
The startup will use the capital for scaling up operations and developing its tech framework.
Custmore Interactive was founded by Vaibhav Shewale, an IIM Calcutta alumnus, and Jeetendra Ghare, an angel investor with telecom and consulting expertise, in January 2015.
The platform provides the end-user with a non-intrusive way of reaching out to businesses such as banks, schools, utilities, NGOs, hospitals, insurers and government departments for information, service and support.
"AppSay is a cost-effective product that offers brilliant solutions to businesses around the world to tackle the growing hassles associated with bulk SMS and e-mails. Its pull-based approach has all the necessary features that can help in protecting customer information," said Shah.
Venture Catalysts' last investment was in Don't Scratch Your Head (DSYH), an Ahmedabad-based SaaS-based logistics reconciliation platform for e-commerce channels.
Its portfolio includes startups such as train discovery platform ConfirmTKT , photography curation venture Siftr Labs Pvt. Ltd , data analytics firm vPhrase Analytics Solutions Pvt. Ltd, peer-to-peer lending start-up LenDenClub and driver analytics firm Vahanalytics, among others.
The platform invests $100,000-250,000 in early stage startups in the Internet of Things (IoT), artificial intelligence, ad-tech, virtual reality, education, e-commerce and retail space.
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