Bangalore based, app developer Robosoft Technologies has raised INR 22 crore in first round of funding from Venture Capital firm, Kalaari Capital. After this investment now Kalaari owns a minority stake in the company, reports ET.
Robosoft technologies was launched in 1996 primarily for building apps for Mac platform, but now it has three subsidiaries. It also creates its own apps through 99Games and Global Delight.
For now the company is focussed on expanding its sales team, setting offices globally, strengthening design and product teams and also in product development.
It had developed apps for brands like The Times of India, Sony, HP, Disney, Reliance and Vodafone. The company aims to be an end to end service provider for the clients, which include app strategy, design, app development and marketing rather than just be an engineering-driven company.
Its most popular app, Camera Plus, has had over 23 million downloads so far. The company claims to have revenues of INR 50 crore.
Robosoft had not taken any external funding so far. Rohith Bhat, founder-ceo, said that they decided to go in for risk capital as products have longer gestation period and they wanted all three divisions to perform independently.
After this round of funding, the company intends to go in for a further round of funding of up to USD 10 million (INR 60 crore) by the next fiscal.
Started more than a decade ago, Robosoft employees 400 member staff and is also setting up sales and marketing offices in India and abroad. “It is great that an Udupi (Karnataka)-based tech company has come this far. If they can combine their technical strength with a global sales and marketing team, the sky is the limit,” said Kumar Shiralagi, MD of Kalaari Capital.
In past few months, the app market has attracted a lot of investor attention, few of the recent funding include Text message app, Plustxt; Cloud-based platform for app developers, Shephertz Technology, etc.
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