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US Based Startup Innovapptive Raises $1.5 Mn Funds From Hyderabad Angels
US-based enterprise software startup Innovapptive raised $1.5million from angel investor network ‘Hyderabad Angels.’ A spokesperson from Innovapptive confirmed this news and also shared that they will be using this funds to strengthen its sales and marketing teams, ramp up customer acquisition and also accelerate product innovation.
Director of Hyderabad Angels, Kishore Ganji will now be a part of Innovapptive’s board as a part of the deal. According to the reports, Hyderabad Angels investment in US bases startup was a strategy to expand its portfolio globally.
Hyderabad Angels transferred the funds to Innovapptive in December 2016 and the latter posted 400% revenue growth in the Q1 of 2017. In this context, Kishore Ganji said: “We are pleased to see 400% revenue growth for Innovapptive in Q12017 with the infusion of additional capital.”
Hyderabad Angels were established in early 2012 and consists a group of investors that includes VC’s, business leaders as well as entrepreneurs.
Innovapptive is a provider of highly configurable cloud-based enterprise mobile solution framework for EAM (Enterprise Asset Management) field operations and supply chain transactions.
Sundeep Ravande, President and Co-founder of Innovapptive said: “We’re just scratching the surface of how powerfully a configurable framework for mobile workforce management solutions can address the exponential demand that enterprises are experiencing.”
Hyderabad Angels, last year led a series of funding in Bengaluru-based edtech startup ePaathshala. It also invested in an adventure driven travel marketplace Thrillophilia and also in OnlinePrasad, an e-portal for devotees.
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