20 May 2016, MUMBAI: Mumbai based start-up, Appie – that assists its users find products available in their local stores raised $1 million (Rs. 67 crore approx.) in a bridge funding round. The company however declined to disclose the details of investors.
The start-up will use this capital to launch its product and scale its service.
According to sources and reports by HT, founder of Appie, Karthik Sanghavi said, ““We plan to acquire 10,000 retailers across 3 cities in the first year and close to half a million users. As an O2O platform, we wish to combine the benefits of online discovery and offline shopping and look forward to expanding our retailer base to other cities to serve this end”.
Appie was founded in 2013 by Kartik Sanghavi and is operated by Appie Mobiquity Pvt Ltd. The start-up is a mobile based online to retail discovery platform connecting physical business with customers.