Hyderabad: Utthishta Management Advisors LLP has invested 75 lakh in three business-to-business start-ups through its debut seed fund targeting companies in software, mobile, web, analytics and cloud computing.

Utthishta Yekum Fund, an alternate investment fund registered with the Securities and Exchange Board of India (Sebi), has invested 25 lakh each in three start-ups: Scanova, SmarterSMB and Rapport.

Two of the start-ups, Scanova and Rapport, were selected for industry body Nasscom’s 10,000 Startups Programme.

Mandava Prabhakar Rao, chairman and managing director of Nuziveedu Seeds Ltd, the country’s largest cotton seed company, is the anchor investor for the 70 crore seed fund.

Scanova allows businesses to integrate custom-designed quick response (QR) codes in their applications and software systems. Designed by Trycon Technologies Pvt. Ltd., a Delhi-based SaaS (software as a service) firm specialising in web-based QR code generation and management solutions, Scanova’s QR code solutions are used by 5,800 registered users in 90 countries. The application also allows companies to custom-design QR codes with brand logos.

Some of Scanova’s customers include Staples, 7-Eleven, Latin Times Media & Magazine, Guardian Health & Beauty, Gallaudet University, and CCBill.

Scanova’s team has relocated to Hyderabad from Delhi to work closely with Utthishta’s team, led by general partners, P. Ramakrishna and Mohsin Khan, the fund said in a statement.

Hyderabad-based Utthishta offers office space, including conferencing facilities, in Hyderabad. Along with seed funding, the fund provides mentoring and networking opportunities for early-stage start-ups in return for equity. The fund did not divulge how much equity it had picked up in each of the three start-ups.

SmarterSMB is a mobile solution developed by Bengaluru-based Smarter Biz Technologies Pvt. Ltd for micro and small businesses with team sizes of 3-50. The application captures digital activity of a business process from the first phone call to raising an invoice and payment. The app allows sharing of digital catalogues on the phone, schedules follow-up appointments, and also hosts data such as previous call recordings.

Rapport is a cloud-based solution that offers a group messaging and chat-like interface between management and field sales personnel. It will initially target pharmaceutical companies and already has two clients, Cipla and Galderma. Rapport is currently in private beta mode and will be made public beta by the end of September.

Developed by Pune-based Stratawiz Technologies Pvt. Ltd., Rapport has incorporated features allowing pulse polls, opinion polls, surveys and instant appreciation to enable an organisation to collect insights and motivate its sales force.

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