Appie a Mumbai based O2O startup has raised $1 million in a bridge funding round. The funding will be utilized to creare traction for their business launching of the product, and strategic alliances to build a consumer base.
Appie was founded by Kartik Sanghavi in 2013. It helps the users to discover product availability and price from different offline retailers located in their area. It also aims to combine offline and online shopping and to expand its retailer base to other cities by acwuiring 10k retailers across Bangalore, Delhi and Mumbai.
Pricebaba a Mumbai based price comparison service shut down its offline model as it failed to monetize the business for retailers to manage to generate lot of traction, this O2O a challenge by this decision.
Kartik Sanghavi, founder of Appie Mobiquity stated,
“We at Appie are building a fairly evolved business model after taking into consideration the collective knowledge of our experienced team members as well as studying and understanding the nuances of consumer behaviour and how they love to shop. The recent capital infusion will enable us to launch and develop our brand and its other multi-dimensional aspects. It will also give us the bandwidth to reach out to our consumers more effectively. We are also actively discussing several strategic tie ups.”