Joognu.com, promoted by Jugnoo Technologies Pvt. Ltd and an incubated startup of IAN, recently raised more than $100k in an angel funding from a large sub broker of sharekhan, Kishore Gokhru as reported and confirmed by official resources of the company. The funds are said to be utilized in product development and marketing and publicity of the new freemium model to be launched soon.
Currently, the company is focusing on India only and plans to expand in SAARC countries first and later to US and UK. The next round of funding can be expected in next 3 to 6 months.
When asked about the company strategy to deal with the rising competition, the person said that being a 19 months old company, they have already captured their market presence and awareness among users and are currently enjoying the early bird advantage and its good to have a competition where they were previously the sole players.
Founded in 2011, an initiative of Anirvan Dam, Joognu works like an online journal and it allows parents to store photographs, videos, upload documents and even prayer for their growing child. It provides the elders a complete safe and secure place with an easy access to keep the memories of their growing child without the fear of getting hard disks lost.
The company initially started with an offline franchise based model and entered online segment in January 2013 with a view to expand globally.
Also, another startup in this segment, Little1 which deals in compelling parents to preserve their child’s memories digitally through photo sharing, uploading etc. as an online baby book record, received $80,000 angel funding from a private NRI investor.