This transaction will help the platform in adding more applications under its ‘PhonePe’ feature that brings together various other applications under it.
The Walmart-owned digital payments platform, PhonePe is set to acquire Indus OS. This transaction will help the platform in adding more applications under its ‘PhonePe’ feature that brings together various other applications under it.
Indus OS has millions of apps on its App Bazaar already, which also powers Samsung devices in India via the Galaxy Store. Since its partnership with the Korean OEM in 2019, Indus OS serves as an alternative to the Play Store on Samsung devices exclusively. The caters to more regional content as well given that is has 12 languages. The company is currently funded by various investors like JSW Ventures, Omidyar Network, Samsung Ventures, VenturEast, and Affle.
Back in 204, Indus also launched India’s first Gujarati smartphone called ‘Firstouch’, and went ahead to raise $4 million in 2017. It has also fulfilled its goal of increasing the number of users to 100 million which it completed in 2020.
Indus App Bazaar has recently curated a special category of apps featured under ‘COVID-19 Resources’, including Practo, 1 mg, Country Delight, BigBasket, Bajaj Finserv Health, and Paytm, among others.
Source: Business World
