Mobile Software enterprise startup, Innovapptive secures the funding of $1.5 Million from Hyderabad Angels. Post funding, Kishore Ganji from Hyderabad Angels will join Innovapptive’s Board of Directors. The rumors are that the funding round was taken place in the Convertible note, which is a form of short-term debt that converts into equity.
The startup is based from Houston, Texas and started their operation from October 2012. Founded by Sundeep Ravande and Hari Kamineni, Innovapptive is a technology solution provider with solutions for Rapid Mobile App Development together with mobile workforce solutions. The startups provide highly configurable cloud-based enterprise mobile solution frameworks for enterprise asset management (EAM), field operations and supply chain. The previous funding raised by the startup was in December, last year.
Sundeep Ravande, President and Co-founder at Innovapptive, said: “As a technology solution provider, we’re just scratching the surface of how powerful a hyper-agile and configurable framework for mobile workforce management solutions can dramatically address the exponential demand that enterprises are experiencing for mobile solutions.”
Innovapptive has introduced the rapid app configuration engine (RACE) framework which will provide rapid mobile application development (RMAD) and configuration capabilities for enterprises to digitize their paper-based processes.
With the help of RACE, the mobile solution accelerates in digitizing the firms regarding Oil & Gas, Life Sciences, Chemicals, and Manufacturing industries to name a few. Innovapptive was also named a 2016 SAP Pinnacle Award Winner and has won this recognition three years in a row.
Hyderabad Angels (HA) is considered as one of the most active early stage investors in India. Recently, they have launched a US chapter and this investment in Innovapptive is in line with its investment strategy of expanding its portfolio globally.
Kishore Ganji from Hyderabad Angels, said: “We are pleased to see a 400% revenue growth for Innovapptive in Q1-2017 with the infusion of additional capital.” Apart from this, Hyderabad Angels have provided early stage funding for other startups like RealBox, SparesHub, IndianMoney, and others. Read more about Indian Startup Ecosystem.