Plustxt Raises Undisclosed Investment from Mumbai and Bangalore Angels

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Bangalore: Plustxt Mobile Solutions, a Bangalore-based startup which developed ‘Plustxt’, an instant text messaging app, received an undisclosed amount of investment from Mumbai Angels along with Bangalore Angels, reports DealCurry.

Plustxt, founded in 2012 by Pratyush Prasanna is an app which allows text messaging in any of the Indian languages as well as language keyboards. The app has more than 50,000 downloads on Playstore and has a high retention rate. It is available in various languages such as English, Hindi, Marathi, Malayalam, Gujarati, Punjabi, Kannada and Tamil for sending and receiving of instant messages. Besides, the app also provides robust privacy controls, secure storage and a high-speed messaging platform offering integrated IM and SMS.

With around 860 million mobile phone subscribers, India is a lucrative mobile market where young subscribers switch from traditional short messaging services to instant messaging platforms such as WhatsApp, Nimbuzz, Facebook and BBM.

Due to the growth of social messaging applications, Ovum estimates that Indian mobile operators lost $780 million from SMS in 2012 and by the end of 2013; they are expected to lose $1.23 billion in revenue.

Apart from Plustxt, other free-to-use instant messaging apps include,; which lets user to sign in and chat on a number of different services and mdash; Google talk, Yahoo, Skype, MySpace and Hyves; Chatplus, Gibberbot among others.

Similar to Mumbai and Bangalore angel investment, free messaging app; Hike acquired an investment of $7 million from BSB, a Jv between Bharti and SoftBank, after its launch on December 12, 2012. Hike competes with other free instant messaging apps like WhatsApp, Facebook Messenger and BlackBerry Messenger.

Read more: Unbelievable Comebacks of 7 Great Startup Personalities

Read more: 4 Biggest Mistakes By World's Most Powerful Entrepreneurs

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