Innovapptive, a startup which makes enterprise mobile software, has today announced that it has raised $1.5 million in its latest fundraising round from Hyderabad Angels. The startup is planning to use the funds to scale its sales and marketing teams, accelerate product innovation and expand customer acquisition.
Hyderabad Angels had earlier launched a chapter in the U.S last year, and the current investment in Innovapptive is in line with its investment strategy to expand its portfolio globally. The startup, which is based in the States, had received this funding in December last year.
Kishore Ganji, Hyderabad Angels and Innovapptive Board Member, said,
We are pleased to see a 400% revenue growth for Innovapptive in Q1-2017 with the infusion of additional capital.
Founded in 2012 by Sundeep Ravande and Hari Kamineni, and based in Texas, US, Innovapptive is a provider of highly configurable cloud-based enterprise mobile solution framework for enterprise asset management (EAM), field operations and supply chain.
The company expanded based on its rapid app configuration engine (RACE) framework to offer rapid mobile application development (RMAD) and configuration capabilities for enterprises to digitise their paper-based processes.
The RACE framework and pre-packaged mobile solutions accelerate digitisation of inspection forms, environmental, health and safety forms, preventive maintenance and supply chain transaction processing in the field.
With over 150 employees across offices in U.S, Germany and India, the company claims to be serving some of the world’s largest brands within the Oil & Gas, Life Sciences, Chemicals, and Manufacturing industries to name a few.
The company claims to be laser focused on achieving “Instant Mobilization” for enterprises, through its bundled SAP certified mobile solutions. This includes 50+ SAP certified mobile applications, SAP run-time licenses for the SAP mobile platform, a private enterprise branded app store, app security wrappers and implementation and customization solutions for Fiori, SAP UI5 and Syclo mobile apps.
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.
According to Gartner Inc., enterprise IT will outstrip internal capacity 5 to 1 and it is imperative for enterprises to consider a rapid mobile application development (RMAD) and configuration framework like RACE.