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US-based enterprise software startup Innovapptive has secured $1.5 Mn from Hyderabad Angels. Post-investment, Kishore Ganji from Hyderabad Angels will join Innovapptive’s Board of Directors.
The startup will deploy the raised funds towards scaling its sales and marketing efforts, product innovation, and increasing customer base.
Hyderabad Angels made a foray into the US startup market in 2016. As per an official statement, the investment in Innovapptive comes with an aim to expand the firm’s global portfolio. An email sent to them did not elicit a response at the time of publication.
Launched in 2012 by Sundeep Ravande and Hari Kamineni, Innovapptive is an American multinational software company headquartered in Houston, TX. It provides configurable SaaS-based mobile workforce management software for enterprise asset management (EAM), field operations, and supply chain. As per its website, the company has over 150 employees across offices in the US, Germany, London, Netherlands. and India.
The company offers a rapid app configuration engine (RACE) framework to offer rapid mobile application development (RMAD). It also offers configuration solutions for companies to digitise their paper-based processes. It has claimed a 400% growth in the first quarter of 2017.
In September 2016, enterprise solutions provider Zybo Tracking Solutions received foreign equity investment from Grasshoppers, a Netherlands-based company. In November 2016, SaaS-based predictive sales analytics startup Vymo secured $5 Mn in its Series A round from VC firm Sequoia India.
Established in early 2012, Hyderabad Angels is a group of investors that includes VCs, entrepreneurs, and business leaders. Based out of Hyderabad, it sources and invests in companies from all over India as well as the US, UK, Singapore, and UAE among other countries.
In October 2016, Hyderabad Angels led a round of funding in Bengaluru-based edtech startup Epaathsala. In the same month, data analytics startup Realbox raised $300K in Pre-Series A funding in a round led by Hyderabad Angels. It has also invested in an adventure-driven travel marketplace Thrillophilia, marketplace for event management, Evibe, and e-portal for devotees, OnlinePrasad.
[The development was reported by ET.]
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