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AppsDaily raises $3.7M from Kalaari Capital, Qualcomm Ventures & others

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Mobile application development and distribution company AppsDaily has raised Rs 25 crore (~$3.75 million) from existing investors including Zodius Capital, Kalaari Capital, Qualcomm Ventures, Ru-Net and Mumbai Angels, reports Mint. The company had raised Rs 100 crore (~$16 million) in a Series C funding in March last year from the set of investors. In October 2013 it raised Rs 31 crore as Series B investment from Ru-Net IndoUs Venture Partners and Qualcomm Ventures.

The company will use fresh funds to finance its “growth plans”, according to the report. AppsDaily’s products include mobile anti-virus solutions, mobile insurance, backup solutions, SOS, mobile privacy, various utilities and mobile games. It also sells and distributes its own and third party products and mobile apps through retail presence across India and abroad.

It currently claims to have over 2 million customers across more than 400 cities in India and abroad. Its retail presence includes around 400 retail distributors and over 10,000 outlets in India and worldwide. The company was founded in 2009 by Arun and Ajay Menon.

Competition

Nazara Games is another app developer and distribution company that focuses on the mobile gaming market; it has developed and distributed a range of branded and original mobile games for developers such as Electronic Arts. The company had acquired a 26% stake Mastermind Sports in April.

Mobile Gaming startup HashCube raised Rs 4.2 crore series A investment led by the mobile games company Nazara Technologies and other investors in November 2015. In June last year, Octro, the company behind Teen Patti, received Series A round of funding of $15 million from Sequoia Capital.

Bangalore-based startup Moonfrog Labs had raised $15 million in a Series A round of funding from Tiger Global and existing investor Sequoia Capital in March 2015.

Incubator for mobile development startups

In October last year, Reliance Games revealed plans incubating and investing in startups in the gaming sector in 2014. The company was still in the process of evaluating games from a couple of developers and had identified some encouraging concepts and prototypes to invest in.

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