The brand will leverage the funding towards the acquisition of high growth mobile apps while driving a business built on solid fundamentals.
KalaGato, a Next Generation Media Company built on Mobile App Buy-Outs (Thrasio for Mobile Apps) has raised USD 4 million in seed funding led by 9Unicorns, India’s first Accelerator VC. Other marquee VCs and angels who participated in this round include Village Global, SOSV, Venture Catalysts, PitchRight Ventures, Miten Sampat of Cred, Aakrit Vaish – founder of Haaptic, Vinay Singh – Partner at FireSide Ventures, Ishaan Ahuja of Everstone Group, Ankit Agarwal of Alteria Capital, Karthik Bhat of Force Ventures, Ridhish Talwar & Ashwin Sinha of AdvantEdge Partners, Prakhar Agarwal – former COO of AngelList and Utsav Somani – iSeed.
The erstwhile Big Data Analytics company, founded in 2018, will leverage the funding towards the acquisition of high growth mobile apps while driving a business built on solid fundamentals.
KalaGato initially started out as a Big Data Analytics platform before pivoting to a roll up model wherein it leverages its proprietary data models to identify and acquire rapidly growing, high revenue mobile apps based on internally created data models. Subsequently, the company optimizes for revenues and expenditures by consolidating costs centrally, optimizing inventory and passing on the benefits through enhanced revenue for the apps.
Commenting on the fundraising, Dr Apoorva Ranjan Sharma, Co-founder & Managing Director, 9Unicorns “We are living in times where the adoption of technology has been fast-tracked post the pandemic, particularly in emerging economies like India. There is immense scope for mobile applications to be launched with innovative solutions to counter existing challenges and fill the gaps. The data-driven approach and vision of identifying high potential mobile apps by KalaGato will go a long way to unlock high value in the digital app landscape.”
Echoing the potential for growth, Aman Kumar, CEO, KalaGato said, “There are approximately 10 Million Apps globally, with the market touching $700 Billion annually; This is expected to cross $1.2 Trillion in the near future, but functions in a disaggregated ecosystem. There are no clear exit opportunities for Independent Developers – by leveraging our data platform, combined with the experience of our team, we have identified an exceptional opportunity at the perfect time, when digital adoption and app usage is booming. The funding will allow us to go on an acquisition spree, optimize operations and create an ecosystem of Digital Apps.”
KalaGato is founded by Aman Kumar, an alumni of ISB, Ex-VC and Second Time Entrepreneur and Himanshu Dhakar an Ex-Data Scientist from TransOrg and alumni of IIT Delhi. KalaGato aims to reach a Billion users over the next 5 years by identifying and acquiring undervalued mobile apps.
Source: Business World