OhoShop, a SaaS (Software-as-a-Service) based M-Commerce enabler startup has raised angel funding of $1 Million (Rs.6.7 Crore) from Media conglomerate Bennett Coleman and Company Ltd (BCCL). BCCL had made an investment through its Brand Capital investment arm.
The Ahmedabad based Startup was found in March 2016 by serial entrepreneurs Abhishek Agarwal, Rakesh Jain and Nidhi Agarwal. Ohoshop is a new venture of Rightway Solutions which offers customers to create retail mobile apps for their clothing, grocery, flowers, optical and other retail businesses. They provide monthly based subscription plans for user to allow them to work on personalized apps.
Abhishek Agarwal, Co-founder & CEO, OhoShop said: “Our consistent efforts have paid off and the trust shown in our abilities by the investors is indeed encouraging. OhoShop has lined up aggressive expansion plans and the funds will help us build our brand and expand our presence.”
OhoShop claims to have built apps for end-markets like fashion, restaurants, grocery, spas and salons and pharmacy. The freshly raised funds will be used for the expansion of product and for elevating workforce.
Other investments made by BCCL are Rs.1.47 Million in Ahmedabad-based Airmed Pathology Labs Pvt. Ltd and also invested in California-based Paragon Trust, in a $1-million round in ed-tech startup NeoStencil India Pvt. Ltd.
Other startups in the same category that have risen funding are:
Bangalore-based mobile app developer HashTag has received a seed funding of $1 million from three undisclosed investors in September 2016.
Hansel Software Pvt. Ltd, which operates a toolkit for mobile app developers called Hansel.io, had also raised an undisclosed amount in seed funding led by early-stage venture capital firm Endiya Partners in February 2016. Read more about startup funding.