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App Development Company Twist Mobile Raises Funding From Matrix Partners

Mobile app development company, Twist Mobile, has raised an undisclosed amount in a Serias-A funding round from Matrix Partners India, reports YourStory.in. According to the report, the company intends to utilize the funding to develop new products, strengthen its product line and for hiring. Following the funding, Rishi Navani, managing director of Matrix Partners and Vikram Vaidyanathan, vice-president , Matrix Partners, will join the board of Twist Mobile.

App Development: The company was founded by Virat Khutal, a former Gameloft employee, in 2009, and had raised seed funding from Achal Choudhary, the President of Indore Professional Studies Academy.  Twist develops entertainment focused games and apps for Nokia and BlackBerry mobile phones based on Java ME platform. It also used to produce and publish wallpapers, ring tones and phone themes through operators & Portals.

However, an Economic Times report indicates that the company pivoted its business model to move away from operators due to lack of transparency in revenue sharing and unwillingness to work with smaller developers. It started developing apps for other businesses, but not seeing success, launched apps on OEM app stores in 2011. The company claims to have registered 73.82 million downloads including 50 million, on the Ovi store (Nokia). It’s app portfolio includes titles like Zulux, Dragger, Special Effect, Glow Puzzle Pro, Photopia among others. Its apps had been downloaded.

Future plans: On its website, Twist mentions that it intends to build City based Applications, Local Content for Rural India, and Content delivery for Nokia Series 40 (featurephones) handsets.

Twist also intends to set-up a remote development centre in Vietnam. Khutal informed VC Circle, that the company plans to launch the remote development centre in the next 15-20 days with about 30 employees. It also aims to raise its headcount from 45 to 120 by the end of this year.

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