Mumbai-based Nodapp.com has raised funding of Rs 1 crore from multiple investors. Noddapp.com is an app-based networking platform that helps individuals discover and meet likeminded people through curated experiences, using data analytics, experiences and algorithms.
The raised funds will be used to scale up operations and expansion across major metros like New Delhi, Bengaluru, Mumbai, Hyderabad and Chennai. Part of the investment will also be directed towards building a strong team and technology.
The company was launched in March 2016 by Shubham Rai (Founder-CEO), Praleed Suvarna (Co-Founder and CTO), Rohaan Haval (Co-Founder and P strategic alliances and marketing) and Arpit Bhajpai (Co-Founder and AVP product).
Nodd app is a networking brand that follows a reference-based model to onboard new members to the platform. Nodd targets the top 10% of the global population which amounts to around top 170 million people of the world, including millionaires, educational achievers, entrepreneurs and professional achievers who love to network for mainly three reasons- business utility, learning and glamour.
Shubham Rai, Founder and CEO, Nodd said, “The segment that Nodd caters to is an untapped space. Hence we don’t have any direct competition and that was one of the reasons why we have drawn 11 investors to participate in an angel round of funding. The funds will be used to increase our team size and invest in technology as well as expanding our geographical presence.”
Source: Times of India
