Port said Catamaran led its seed funding round but did not disclose the investment amount and the name of other investors
The startup said it will use the funding to expand its team and launch a beta version of its app, which is currently in alpha testing phase
Founded in 2023 by Aniruddh Balasubramanian and Abhinav N, Port is a is a messaging app that uses ports instead of phone numbers to connect users
Numberless, Inc., the parent company of messaging app Port, has bagged seed funding in a round led by Infosys cofounder Narayana Murthy’s investment firm Catamaran.
In a statement, Port said it will use the funding to expand its team and launch a beta version of its app, which is currently in alpha testing phase. The public version of the app is expected to go live in November 2023, it said, without providing any further details on the investment received and other investors.
Port, founded in 2023 by Aniruddh Balasubramanian and Abhinav N, is a messaging app that uses ports instead of phone numbers to connect users. The startup said these ports require consent from both parties to open, which means no unwanted connections will be able to spam the message box.
Explaining the idea behind developing Port, CEO and cofounder Balasubramanian said, “Due to the proliferation of mobile devices, phone numbers have become the convenient, de facto means of connecting for any purpose… The value of these connections varies widely, though, so it feels incongruous that each receives the same permanent hook into our devices and lives… Port solves for this by removing phone numbers from the process of connecting and communicating with others.”
On Port, either party can close the port at any time without leaving behind a phone number for undesired follow-on communication. Port also claims to offer open-source encryption technology to keep messaging content private.
The app will compete with the likes of Telegram and Signal.
Founded in 2010, Catamaran is an active investor in the Indian startup ecosystem. It has invested in sectors like ecommerce, technology, financial services, consumer goods, healthcare and education. It manages over $1 Bn across asset classes and counts startups like Log9, Loco, Udaan in its portfolio.
The funding round comes at a time when there are demands from some sections to bring messaging apps under the same regulatory regime as telecom operators.
The development also comes at a time when the Indian startup ecosystem is reeling under the effects of the ongoing funding winter. The funding crunch has resulted in startups resorting to layoffs and restructuring exercises to increase their runway.
According to Inc42’s Indian Tech Startup Funding Report H1 2023, the funding raised by Indian startups nosedived 72% year-on-year to $5.4 Bn in H1 2023.
