Chennai-based mobile app builderon Tuesday said that it raised $8.5 million in a Series A round from Kansas City-based growth equity firm Five Elms Capital.
“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,” Baskar Agneeswaran, Vajro CEO, said in a statement.
Founded in 2018 by Baskar, Niwin Santhosh and Raghuraman Ramamurthy, Vajro has close to 150 employees.
It is currently aligned to the ecommerce industry, enabling online stores to build native mobile apps in under 60 minutes, without writing a single line of code.
It is the first mobile app builder to launch live video commerce features from the mobile app and is currently the only one that offers this feature on Shopify, said the company in a press release.
Daniel Bjornson from Five Elms Capital said,
“Most e-commerce stores are optimised for desktop web traffic while 80 percent 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 is a growth equity firm that invests in fast-growing B2B (business-to-business) software businesses. It provides capital and resources to help companies accelerate growth and further cement their role as industry leaders.
Vajro’s mission is to democratize app building and make it easy for merchants to create an improved mobile commerce experience thus improving conversion rates.
According to Vajro, more than 2,200 brands from over 150 countries have chosen its platform to accelerate their growth. Leading D2C (direct-to-consumer) brands in India like Juicy Chemistry, Earth Rhythm, AndMe, FreeCultr, Melange Box, Prashanti Sarees, Shrus Eternity, House of Masaba all use Vajro for their mobile apps.
“We have attracted new investors because, unlike others, Vajro is a platform built on technologies native to both Android and iOS,” said Niwin, Vajro COO. “We also allow ecommerce merchants to make changes on the fly, without needing to update the app each time.”