Vajro raises $8.5 million to help e-commerce stores build mobile apps
Funding to deploy to add more functionality to the platform and acquire new users
Founded in 2018, Vajro enables brands to build their own apps without writing a single line of code.
The global low-code development market is expected to reach $45.5 billion by 2025
Chennai-based no-code mobile app development platform, Vajroraised $8.5m in Series A funding from US firm Five Elms Capital.
Five Elms Capital is a Kansas-based growth capital firm investing in fast-growing B2B software companies.
The startup will deploy the funding to add additional features and functionality to its platform. The startup will also use this investment to strengthen its presence in the market and acquire new users.
Echoing this sentiment, Vajro CEO Baskar Agneeswaran said, “Vajro will use its Series A funding to develop its next-generation platform with new features and flexibility and to create integrations with other platforms. -e-commerce forms such as WooCommerce, Magento and others to extend its reach even further.
Adding to this, Vajro COO, Niwin Santhosh also said, “We have attracted new investors because unlike others, Vajro is a native technology based platform for both Android and iOS. We also allow eCommerce merchants to make changes on the fly, without having to update the app each time. »
The mobile app startup was founded in 2018 by Baskar Agneeswaran, Niwin Santhosh, and Raghuraman Ramamurthy. Vajro enables e-commerce brands to create their own Android and iOS apps, without writing a single line of code.
Speaking about the association, Daniel Bjornson of Five Elms Capital said, “Most e-commerce stores are optimized for desktop web traffic, while 80% of traffic comes from mobile devices. Vajro solves this problem by reducing the friction of traditional mobile commerce, quickly and efficiently. Our partnership will allow the team to continue to invest in the product and increase mobile sales for its customers. »
Even though the pandemic has hit businesses around the world, the global mobile development market continues to thrive. The expected revenues in the sector are estimated at reach $44.3 billion by 2027. The global low-code development platform market is expected to grow to reach $45.5 billion by 2025. Another one report estimated that India’s MADP market could reach $14 billion by 2023 at a CAGR of 22%.
The startup claims 2,200 customers in 150 countries. Many Indian D2C brands use Vajro including Earth Rhythm, AndMe, Prashanti Sarees, House of Masaba among others.
Vajro competes with big players like Zoho Creator in this highly competitive industry.
Growing consumer demand, which has only grown amid the pandemic, has led to the rise of many new age d2c brands. India is currently home to over 50,000 digital first brands and over 15 million active online sellers. This, in turn, has provided a huge opportunity for startups like Vajro that simplify the process of building apps. On top of that, the investment is a great opportunity for the startup to grow and expand its footprint across the country.
