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Adepto Solutions raise $300,000 in Series A Funding
By siliconindia
Mumbai: Mumbai-based social media application development company, Adepto Solutions, has raised $300,000 in series A funding from Blume Ventures and a group of angel investors from the Rajiv Dadlani Group.
Karthik Reddy from Blume Ventures and Rajiv Dadlani have joined Adepto Solutions' Board. The fund raised will be utilized for expansion, product development and hiring. The firm is also working on products for travel, media and entertainment verticals. Rajiv Dadlani, the lead angel investor, said that they have noticed a spirit of action, technology focus and a creative cheer, which influenced him to fund the company.
Founded by two ex-Googlers, Kiran Kumar and Prem Pillai, Adepto operates Trol.ly which works as a social commerce solution to the online retailers, helping them improve sales via social networks. In February 2011, Alok Kejriwal, Co-Founder & CEO, Games2win India, joined Adepto as a strategic advisor. Adepto is headquartered at Mumbai, has a sales office in San Francisco and a development centre in Hyderabad.
Kiran Kumar, CEO and Co-Founder, Adepto Solutions said that the fund will primarily be used for hiring key personnel and for business development. The firm is working on a product for the Travel vertical that they hope will be released this year. They also focus on expanding the business footprint of Trol.ly by adding more people to the product team and taking Trol.ly to the relevant markets.
Karthik Reddy, Managing Partner, Blume Ventures said that the social network already have around one billion registered users, which is 15 percent of the world's population. The online retail industry is leveraging social media into their businesses and benefit from it and it is the right time to launch Trol.ly.
Adepto offers online retailers the ability to run automated product engagements, showcase their products and engage their customers on social networks through its platform Trol.ly. Trol.ly uses Facebook's Open Graph as well as other semantic web protocols for social network integration with e-commerce. It has Homeshop18, Buytheprice.com and Fernsnpetals.com in its portfolio.
