Queue Management Application startup SMINQ has acquired CodePandora which is UX-focused software service provider. The deal took place on Monday in a whole cash and equity acquisition. The deal was supported by Saama Capital and Blume Ventures.
The deal is believed to be in multiples of million dollars, with the majority being equity. Though the companies declined to disclose the exact valuation or transaction details.
Shachin Bharadwaj, CEO, SMINQ, said, “CodePandora team has been one of our technology partners for the last one year & we loved the quality of work that their team delivered and hence this was a perfect match for us.”
About the companies:
SMINQ solves the problem of waiting by taking physical queues online. It provides real-time availability information at doctors’ clinics to help users avoid waiting in queues. SMINQ is used by more than 100 doctors and 200,000 patients in the country. The Pune-Based startup was founded in July 2015 by Sachin Bharadwaj and the total Equity funding is of $1 Million.
CodePandora provides high-quality UX-focused software services to their clients in India and overseas.
The startup was founded in 2012; CodePandara was led by Bjorn Mascarenhas in Pune.
On the acquisition, the CEO of CodePandora Mr.Mascarenhas said: “We strongly believe in team SMINQ’s approach towards addressing the queuing & availability problem. Our mission has always been to develop exquisitely designed software, and we’re now excited to carry forward this focus at SMINQ to help realize a broader vision, together.”
In his new role, Mr. Mascarenhas will lead UX division at SMINQ and he will be assisting the startup to realize a broader global vision.
Prior to this Acquisition, last year SMINQ has raised $1 Million of seed funding from Saama Capitals and Blume Ventures. Sachin Bharadwaj also the founder of a FoodTech startup, TastyKhana which was acquired by FoodPanda in 2014. Read more news.
From Entrepreneurs to Wannapreneurs, Technopreneurs, and Socialpreneurs every one is attending Xelerate India 2017 Register Here to attend the event.