India: Mobile protection startup AppsDaily raises $3.75m from founders, others

Mumbai-based mobile protection and security firm AppsDaily Solutions Pvt. Ltd said it secured Rs25 crore ($3.75 million) from founders and existing investors.

The fresh capital would be used to finance growth plans, AppsDaily said in a statement.

The company’s existing investors include Zodius Capital, Kalaari Capital, Qualcomm Ventures, Russian venture capital fund Ru-Net and Mumbai Angels. It has raised a total of about Rs150 crore in earlier rounds of funding.

Founded by Arun Menon and Ajay Menon in 2009, AppsDaily develops and markets mobile applications in India and abroad.

Its current products include mobile anti-virus, mobile insurance, back-up solutions, mobile privacy, mobile utilities and games, and are sold under the brand name ‘Daily’ such as Daily Cop, Daily Protect, Daily Assure and Daily Complete Security.

“We are very excited about the overall growth in the mobile protection and security market, which is driven by the strong surge in smartphone sales in the country, along with an increasing awareness among customers on mobile protection and security products,” said chief executive Arun Menon, adding, “we believe India will be a huge market for mobile protection and security in 3-4 years.”

The company started off as Onward Mobility and was later re-branded as AppsDaily.

Ajay Menon previously founded Ambrosia Infotech, a product engineering and consulting services provider.

Arun Menon, who holds a B Tech degree in mechanical engineering from IIT-Bombay, has earlier worked at BillDesk and Tata Infotech.

AppsDaily, which says it has over two million customers, operates in more than 700 cities with more than 400 distributors and 10,000 outlets, as per information available on its website.

The company’s board includes Vani Kola of Kalaari Capital, Gautam Patel of Zodius Capital, Galina Chifina of Ru-net and Rajiv Dadlani, founder and chief executive of Consort Capital Services.

This article was first published on Livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.