Enterprise-tech startup Applicate raises $550K in angel investment
Delhi-based Applicate IT Solutions Pvt Ltd that offers solutions for sales, marketing and distribution besides data analytics and enterprise communications, has raised Rs 3.5 crore ($550,300) from a dozen high-net-worth individuals (HNIs), the company said on Monday.
The investors include Rishi Vasudev (Flipkart's vice president), Vishal Chaddha (HT Media's marketing head), Rajiv Nayan (director for business development at TCS Canada) and Rakesh Mishra (managing director of Ravian Pharmaceutical).
Applicate was founded last year by former Coca-Cola executives Ranjeet Kumar and Deepak Rewadi. Kumar was handling Rajasthan operations for Coke as an associate vice-president while Rewadi was heading operations in Madhya Pradesh as general manager in his last assignment.
"The platform is a big leap from automation of transactions and capturing of information to impacting everyday execution and business outcomes in the most effective and measurable way," said Kumar.
It offers products like Trade GINITM for connecting channel partners, REMOTETM for tracking the effectiveness of promotions and below the line marketing campaigns and KITTM for knowledge, insight and training apart from the next generation sales force effectiveness app TEEMTM for retail and Store CONNECTTM for emerging channels.
Applicate is planning to raise $5 million later this year to scale up its operations across Asia.
(Edited by Joby Puthuparampil Johnson)