Bangalore-based Mobisy Technologies Pvt. Ltd, which operates supply chain automation platform Bizom and mobile marketplace app Distiman, has raised $382,000 (Rs 2.5 crore) in a bridge round from existing investor Ojas Ventures and two undisclosed angel investors.
Arun Narayanan, co-founder, Mobisy Technologies, confirmed the funding round, and told VCCircle that the capital will be used to expand Distiman geographically and scale up Bizom’s operations.
“Other functions, such as brand sales and engineering, are shared. In fact, Bizom is Distiman’s back-end technology, so the engineering roadmap for the products is essentially the same. Hence, the same resourcing and costs,” Narayanan said.
The company is also in talks to close a $5-million (Rs 33 crore) Series A round, the funds from which will primarily be used to expand Distiman’s operations.
“We are in fairly advanced talks with several investors, whose identities we cannot disclose. Our existing investors are also looking to participate in the round,” Narayanan said, without elaborating on the timeline.
In 2013, Mobisy Technologies had secured $300,000 in seed funding from Ojas Ventures.
Launched in 2007 by Lalit Bhise, Mobisy Technologies started with a product called Mobitop, a versatile platform for mobile app development. In 2009, the company decided to pivot to mobility enterprise solutions catering to the FMCG space. Vasudeva Manjunath, Shree Kulkarni and Arun Narayanan joined as the company’s co-founders at a later stage.
Bizom
Bizom, launched in 2013, is a mobile-first platform for retail channels and teams to transact, collaborate and accelerate. It helps FMCG brands and their feet-on-the-street sales team digitise and render in real time order and inventory management, enabling better planning, setting targets and…