Gurgaon-based Reach, an app that enables its users to access music, games and other mobile phone apps, has raised $500K in pre-Series A round of funding led by Japanese venture capital firm Rebright Partners.
Other investors who participated in this round include Sol Primero, Nearbuy CEO Ankur Warikoo, Ankur Singla (CEO, Helpchat), Sudhir Anandarao (Entrepreneur in Residence at Bessemer Venture Partners), Durgesh Kaushik, Pritesh Gupta, Anunay Gupta.
Reach was launched in March 2015, by Abhay Pruthi, Akshay Pruthi, Ayush Verma and Ashish Kumar. It allows its users to browse media files of their friends’ mobile gadgets and exchange the ones they like. Generally, the file sharing apps available in the market, allow sharing from sender to receiver. Reach reverses the file sharing flow and allows receivers to serve themselves. There are appropriate permissions involved for giving the access of ones mobile content.
Related Article: Funding Galore: Startup Fundings Of The Week [7 March – 12 March]
The startup has built a ‘peer-to-peer infrastructure’ that shares information between phones, without storing app data on the server during the transfer.
Currently there are more than 50,000 users, with a over 16 Mn files on its network, and more than 2 million file events. The startup will use the newly raised capital to hire tech talent.
Prior to this, Gurgaon-based Zappka, a personal app store to share, review and discover apps, raised $100K angel funding from former Line Corp India team Damandeep Singh Soni & Rajat Gupta and other High Net-worth Individuals.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.