Vajro raises USD 8.5 mn from Five Elms Capital
Mobile app builder firm Vajro on Tuesday said it has raised USD 8.5 million (around Rs 63.52 crore) in a funding round from Kansas City-based growth equity firm Five Elms Capital. Vajro enables ecommerce store owners and service providers to create mobile shopping apps for Android and iOS users in 60 minutes or less, without writing codes.
“Vajro will use its Series A funding to develop its next generation platform with new features and flexibility and to build integrations with other e-commerce platforms such as WooCommerce, Magento, and others in order to expand its reach even further,” Vajro CEO Baskar Agneeswaran said in a statement. Launched in 2018, Vajro has 150 employees.
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“Most e-commerce stores are optimized for desktop web traffic while 80 per cent of traffic is coming from mobile devices. Vajro solves this problem by reducing the friction of traditional mobile commerce, quickly and effectively. “Our partnership will allow the team to continue to invest in the product and drive increased mobile sales for their clients,” Five Elms Capital senior associate Daniel Bjornson said.
Vajro claims to have a portfolio of over 2,200 brands from over 150 countries that are using its solution. Direct-to-consumer (D2C) brands from India that are part of Vajro’s portfolio include Juicy Chemistry, Earth Rhythm, AndMe, FreeCultr, Melange Box, House of Masaba etc.
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