Blume Ventures invests in software firm Kuliza
Bangalore-based Kuliza Technologies Pvt Ltd that offers Kuliza, a software development tool for building web, mobile and social media experience for Indian and global companies, has raised an undisclosed amount in funding from Blume Ventures. The funds raised will be used for global expansion and marketing.
The company was founded by Anand Kuliza in September 2006. Its product suite includes building online communities, websites, social apps, social campaigns, mobile apps and social plug-ins for brands. Its clients include companies like Myntra, Whirlpool, Van Heusen, Intuit, Pearson, among others as its clients.
Talking to Techcircle.in Kaushal Sarda, CEO, Kuliza, said one of the main agendas of associating with Blume Ventures is also to get more of the fund’s portfolio companies on board since it has a good mix of technology companies in its portfolio. Sarda said the founder of the company, Kuliza, has recently moved to US where the company has opened a new office. “We get the majority of our clients from the US and thus it’s a great focus area for us now. With the funds raised we also look to expand operations there,” Sarda said. He said India is also a key market for the company and it is looking to expand its reach here. It has a few clients in Asian countries, apart from those in India and the US.
Earlier this year, Blume Ventures announced the names of 12 startups it invested in during the first half of this calendar year (January-June 2013). Of these, the new investee companies are Infollion, Paletly, Voxapp and NowFloats in which Blume Ventures was the lead investor.
“We are impressed with Kuliza’s strong team of agile developers and its high rate of customer retention,” said Karthik Reddy, managing partner, Blume Ventures.
(Edited by Joby Puthuparampil Johnson)
Blume Ventures Fund I is a $27.72 million seed and venture fund managed by Blume Venture Advisors Pvt. Ltd. It provides seed, early and venture capital to companies operating in India. The fund seeks to invest in data infrastructure, specialized finance, biotechnology, research and development, mobile application, real estate, movies and entertainment, human resource and employment services and consumer internet sectors. It seeks to invest between $0.05 million and $1.5 million in its portfolio companies.
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