Offline mobile app distribution company AppsDaily has raised over $5 mn in series B funding from ru-Net, IndoUS Venture Partners and Qualcomm Ventures, according to a new report.
The funds will be used to expand the companys distribution reach and talent acquisition, Techcircle reported citing Maria Krajukhina of ru-Net.
The Mumbai based startup Onward Mobility, which runs AppsDaily was founded by Arun Menon & Ajay Menon in 2008. The company raised seed funding (about $1 mn) from Mumbai Angels in 2010.
In 2011, the company raised Rs 18 cr in a series A round led by IndoUS Venture Partners and Qualcomm Ventures.
Appsdaily was one of the companies that talked at the bigMobility conference we organised in September. The company sells apps to customers through offline outlets. The company has sold thousands of app bundles to customers at an average sellling price of over Rs 1000 per bundle.
Zubin Dubash, the Chief Strategy Officer of the retail distribution network for mobile applications said at the conference that in spite of India being one of the largest growing smartphone market, mobile applications are being targeted at the wrong user group.
Listen to Zubin Dubash of AppsDaily talk about the company’s unique business model in the video below.