Back5ideas Startup Superfuel invests in WooMe.mobi
The fund typically invests up to $2.5 million in consumer Internet and mobile technology start-ups
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Mumbai: Telefusion Mobile TV Pvt. Ltd, which owns and operates television interactive mobile application WooMe.mobi, announced on Friday that it has raised an undisclosed amount of funding from 5ideas Startup Superfuel Fund and two angel investors.
The fund typically invests up to $2.5 million in consumer Internet and mobile technology start-ups.
“We tend to consume more content on our mobile screens than via conventional access points, this trend will continue to strengthen with larger screens, better bandwidth and more computing power. Woome is helping Indian brands and entertainment powerhouses connect with their customers in a meaningful, contextual and relevant format," Pearl Uppal, managing partner, 5ideas Startup Superfuel, said in a statement.
The mobile app uses an audio content recognition technology that listens to the audio from the programme the user is watching, and serves additional related content such as videos, pictures and news, to the user’s mobile screen.
The number of mobile apps downloaded in India is expected to grow from 1.56 billion per annum in 2012, to 9 billion by 2015, according to a report by Deloitte Touche Tohmatsu India Pvt. Ltd. This translates to a compound annual growth rate of 75%. The share of video in Internet data traffic is expected touch 64% in 2017, according to the report.
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