Bengaluru-based enterprise solutions provider OBOPAY has announced the acquisition of Accel Partners-and Nandan Nilekani-backed consumer technology platform Mubble, as the former plans to strengthen and enhance its data analytics capabilities and mobile app expertise.
Although OBOPAY did not reveal the acquisition amount, the spokesperson said, “The acquisition is a 100% buyout.”
Bengaluru-based Mubble was launched in 2013 by Ashwin Ramaswamy, Pranav Jha and Raghvendra Varma. Mubble provides a personalised content and a utility application built on a smart recommendation framework. These are two broader synergy areas that OBOPAY intends to capitalize through this acquisition.
According to CEO of OBOPAY, Shailendra Naidu, the recommendation algorithms and data analytics capabilities of Mubble will significantly boost OBOPAY’s services in all the markets it operates, including 11 countries and three continents in Asia, Africa and North America.
“Together with OBOPAY’s technical edge and Mubble’s value additions in consumer class applications, we would create products and solutions that will bring about measurable and sustainable difference to our customers,” Naidu said.
Mubble’s self-learning, offline-capable and on-device text analytics technologies enable data crunching on the phone and reduces the need to send data out of smartphones to central servers. Since inception, the company claims to have clocked close to 10 million downloads.
In 2015, Mubble raised an undisclosed amount in Series A funding round from an American venture capital firm Accel Partners. Prior to that, in the same year, the startup had secured an undisclosed amount of funding from the Infosys co-founder Nandan Nilekani.
Ashwin Ramaswamy, co-founder and CEO of Mubble, said, “Mubble has always believed in the power of leveraging the data streams from high frequency consumer use-cases, be it recharge transactions or news consumption; as an entry into the payments space. In OBOPAY, we see a dream fit towards this vision of ours.”
After the acquisition, Ramaswamy will be joining OBOPAY.