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Chandigarh-based Jugnoo confirmed this week that it closed a Series B round at $5.5 million, after adding $2.5 million to the initial $3 million tha
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t it secured back in November 2015. The additional top-up was provided by existing inves
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tor聽Paytm, the Alibaba-backed billion-dollar mobile payments firm, with participation from Snow Leopard, another existing backer. The
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company raised a $5 million Series A round last summer.Jugnoo was launched in November 2014 with the basic premise of making India ubiquitous auto-rickshaw drivers more efficient, and plugging consumer transportation demands聽at the same time. The service is currently operational across 22 cities, where it claims two million users, around 6,000 drivers and 30,000 completed rides per day.In an interview with TechCrunch, co-founder and CEO聽Samar Singla said that he took inspiration from the fact that auto-rickshaw drivers are just 30 percent utilized, even though they are responsible for a whopping 30 million rides pe Sits In India, TinyOwl Founder Reportedly Detained for Two Days By Laid-Off Employees 8212; and the Police
Appies plans to back mobile application developers not startups, and sees where that takes it. Admittedly, not every app developer wants to start a business or a startup. They just have a good idea for an app.The company has been created by long time Brazilian entrepreneur Bob Wollheim and app developer Dirceu Pauka. Everyone is aiming at Silicon Valley. We look horizontally towards India, Russia, China, Brazil and beyond. Devs know how to code, we wi
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ll help them with the business and will transform them into geekpreneurs, says Wollheim.Why are apps a big deal in Brazil According to national telecom agency Anatel, Brazil has 224 million cell phones for 190 million inhabitants. So mobile development is a big deal.Appies is, at the moment, based in Sao Paulo, Brazil. It Creating a
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co-working space for app developers, running events and programs, hackathons, the usual thing.Partners now include mobile operators Telefonica, Viv
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o and affiliate program Lomadee.