Pune-based startup Volare Technologies Pvt. Ltd, which runs a phone contacts management app called InTouchApp, has raised an undisclosed amount of seed funding from Blume Ventures.
Incubated at the Microsoft India Accelerator programme, the app allows users to sync, backup and share contacts across platforms.
“While Sarang (founder Sarang Lakare) had already built a robust product, the next phase is extremely exciting for us - where it moves from utility to a private social network in small organisations and teams,” said Karthik Reddy, managing partner at Blume Ventures, in a statement. “The ability to share and add relevant network seamlessly in a mobile centric era is what InTouch will solve."
The startup was founded by Sarang Lakare in 2012. Lakare has a Ph.D. in computer science from the US, and has previously worked with Siemens Healthcare.
The app claims to have been downloaded 2.5 million times. It is available on all major smartphone platforms.
Last week, Blume Ventures had led a pre-Series A round of funding in loyalty rewards platform m.Paani.
Prior to that, Blume Ventures backed tech startup Servify, which offers brand-authorised after sales support services for electronic gadgets.
In December 2015, Mumbai-based seed-stage venture capital firm Blume Ventures had raised over $30 million for its second fund. It expects to make 35-45 investments from this second fund.
The VC firm has been investing $100,000-$250,000 (Rs 60 lakh-Rs 1.25 crore) in each portfolio firm, participating in seed rounds where the overall deal size, including investment by other investors, was $300,000-500,000. Leave Your Comment