SaaS startup Apptile gets $2.5M funding

Bangalore-based Software as a Service (SaaS) startup Apptile has received $2.5 million funding in a seed round, according to a statement. Mankekar Family Office and Ramakant Sharma, founder at Livspace.com led the seed round.

Apptile was started in 2021 by Rohit Modi, Samyam Annappa, and Vishal Sood. The startup offers customisable and hyper-personalized app-building capabilities that were previously only available to large brands.

Apptile plans to use the money to launch its innovative platform which will allow its businesses to create customised, high-performance mobile apps without the need for coding or design experience, the company said. It will also use the money for expanding its team and further develop its platform.

“In the past 15 years, mobile app development has not kept up with the widespread adoption of mobile devices. We strongly believe in the potential of mobile apps as a retention channel, on a par with e-mail and SMS,” said Rohit Modi, co-founder, and CEO of Apptile.

Saas startups are gaining investors interest these days. Today, venture capital firm Iron Pillar closed its  $129-million late-stage fund to back Saas startups. It will invest in Series B and Series C rounds in global cloud companies from India, the company said.

Yesterday (4 April 2023), Chennai-based Spend management software Spendflo raised $11 million in a Series A round led by Accel India and Prosus Ventures.

“As cost optimization becomes a priority, Spendflo is becoming the go-to, tailor-made solution for buying, managing, securing, and saving on SaaS from one place. It fits like a glove for growth-hungry businesses and helps them unlock maximum ROI on their SaaS stack,” said Siddharth Sridharan, Co-Founder, and CEO of Spendflo.

Meanwhile, Sequoia-Backed Capillary Technologies has acquired US-based SAAS Co Brierley. This will help Capillary to expand its customer loyalty platform, and expand business and partnership networks.