Hyderabad-based MartMobi gets into TechStars accelerator1 min read . Updated: 20 May 2014, 10:28 PM IST
MartMobi is among the 10 start-ups chosen for the spring intake by TechStars and will work out of its Chicago office
MartMobi is among the 10 start-ups chosen for the spring intake by TechStars and will work out of its Chicago office.
The programme will commence on 27 May. It is a mentorship-driven seed stage investment programme that runs for three months. Companies that are part of the Techstars incubation programme get $18,000 in seed funding initially, according to its website.
TechStars is in the same league as other start-up accelerators such as YCombinator and AngelPad.
“We are excited to have MartMobi join TechStars and strongly believe in the team and their vision. We hope this would inspire many other Indian start-ups to apply to TechStars," Troy Henikoff, managing director of TechStars said in a statement.
MartMobi helps businesses go instantly mobile without having to write any code. Its mobile commerce platform allows businesses such as online stores, retailers and brands build the mobile and tablet version of their websites, and also build applications on mobile platforms such as Google Inc.’s Android and Apple Inc’s iOS opeating systems.
Founded by serial technology entrepreneurs Satya Krishna Ganni and Pramod Nair, MartMobi has raised an undisclosed amount in angel funding from BitChemy Ventures and Srini Koppolu, the former managing director of Microsoft Corp.’s India Development Centre. It earlier received seed capital from Banyan Intellectual Initiatives, a sister concern of International Institute of Information Technology (IIIT)-Hyderabad.
The one-year start-up is currently incubated out of IIIT–Hyderabad’s Centre for Innovation and Entrepreneurship.
“We want to build business partnerships, gain customer traction, increase revenue and gain investor visibility and hopefully raise capital and expand in US and other markets," Ganni said in a phone interview. “We want to be known as Inmobi for mobile commerce," he said.
The company currently has small and medium businesses such as Caratlane, Prettysecrets, American Swan as its clients in India and the US.
“Our cutting edge technology has helped us make global inroads. We will continue to focus on technology and build on user experience to deliver the world’s best platform to our customers," Nair, who is the chief technology officer of MartMobi, said.