Houston, Texas-based enterprise mobile software startup Innovapptive Inc. has raised $1.5 million (Rs 9.6 crore) from angel investor network Hyderabad Angels.
The company will use the capital to strengthen its sales and marketing teams, accelerate product innovation and ramp up customer acquisition, it said in a statement.
As part of the deal, Kishore Ganji, a director at Hyderabad Angels, will join Innovapptive’s board.
The company, founded in 2012 by Hari Kamineni, Sundeep Ravande and Sri Karthik Prabhu Kumar, provides configurable mobile workforce management solutions for enterprise asset management, field operations, and the supply chain space.
“We are pleased to see 400% revenue growth for Innovapptive in Q12017 with the infusion of additional capital,” Ganji said.
Hyderabad Angels had transferred the funds to Innovapptive in December last year, a report in The Economic Times said.
Innovapptive’s flagship product Rapid App Configuration Engine framework offers fast mobile app development and configuration capabilities for enterprises to digitise their paper-based processes. It helps companies accelerate digitisation of inspection forms, environmental, health and safety forms, and preventive maintenance and supply chain transactions.
“We’re just scratching the surface of how powerfully a configurable framework for mobile workforce management solutions can address the exponential demand that enterprises are experiencing,” said Sundeep Ravande, president and Co-Founder, Innovapptive.
The company’s clients span industries such as oil and gas, life sciences, chemicals, and manufacturing, including global brands like Marathon Petroleum, Exxon Mobil, Shell, MARS Chocolate, UNICEF and Johns Manville.
It employs over 150 people across offices in the US, Germany and India.
In October last year, Hyderabad Angels had invested an undisclosed amount in Bangalore-based ed-tech startup Epaathsala. Earlier, it had invested in data analytics startup Realbox. It has also invested in food delivery startup Twigly, marketing automation platform Betaout, and IT startup BlackBox.
Source: vccircle
