H'bad Angels puts $1.5m in Innovapptive

HYDERABAD: Enterprise mobile software startup Innovapptive has raised $1.5 million from Hyderabad Angels. The startup intends to use the funds raised to scale its sales and marketing teams, accelerate product innovation and expand customer acquisition.

As reported by ET, Hyderabad Angels had launched a chapter in the US last year. The current investment in Innovapptive, which is based in the US, is in line with its investment strategy to expand its portfolio globally. Hyderabad Angels transferred the funds to Innovapptive in December 2016.

The company posted a 400% revenue growth in the first quarter of 2017. "We are pleased to see a 400% revenue growth for Innovapptive in Q12017 with the infusion of additional capital," said Kishore Ganji from Hyderabad Angels, who will join Innovapptive's board of directors. Innovapptive is a provider of highly configurable cloud-based enterprise mobile solution framework for enterprise asset management (EAM), field operations and supply chain.

The company, founded by Sundeep Ravande, Hari Kamineni and Sri Karthik Prabhu Kumar, expanded on its rapid app configuration engine ( RACE) framework to offer rapid mobile application development (RMAD) and configuration capabilities for enterprises to digitise their paper-based processes.

The RACE framework and prepackaged mobile solutions accelerate digitisation of inspection forms, environmental, health and safety forms, preventive maintenance and supply chain transaction processing in the field.