On Tuesday, Clocr, a digital vault service, announced that they had raised USD 500k as a seed fund, and the company is looking forward to expanding its reach in other parts of the country.
Rather than this, they have planned to increase their global presence by hiring teams in different geographies. Clocr provides B2B integrations through their various verticals.
They added that they plan to distribute a significant fund for the sales and marketing division for the Indian market. As they have noticed the digital growth in the country, they have decided to make strategic investments mainly in India, which can increase their platform’s offering and that can be potentially profitable in future.
Clocr is on a swift flow to scale its operation fast, and for that their funding also needs to increase in future.
About the company:
Clocr (pronounced as “Clocker”, a short name for “Cloud locker.”) was founded on November 18, 2018, by Apoorva Chintala. This idea came into the mind of Apoorva when she lost her grandfather. She saw her grandfather grappling with his assets and legacy management.
Clocr offers specialized onboarding and digital vault with patent-pending, proprietary, multi-layered security protocol, which is built on blockchain and IPFS concepts.
Clocr, is a Software as Service (SaaS); this software empowers its user to organize their assets and files, have a record of their heirs, and provide access to their heirs, the legacy of their beloved.
Words from Co-founders:
“Clocr had been bootstrapped until we got funding and was originally completely reliant on organic growth. Initially, it was a balancing act between cost and quality. Soon the digital solution matured and worked out in favour of the company,” said Sree Chintala, CTO and co-founder, Clocr.
“We have an early mover advantage and a big enough roadmap that brings a multitude of additional services into our digital legacy platform,” – she added.
Shree also stated that after the success Clocr had in the USA now, they are coming to India and hoping for a positive response. Clocr will be the company to bring a revolutionary digital legacy solution.
“With that being said, we are more cautious about further funding expansions. We would consider potential strategic investments, majorly in India, which can enhance our product offering and enrich the revenue.” said Shree.
“It has been a long journey for us to get to this point. Raising the seed round and people joining our journey through crowdfunding has validated what we are working on and has affirmed that the market needs our service. We are super excited about our progress thus far, and we have lots of big plans to innovate in the legacy planning industry,” said Apoorva Chintala, CEO and Co-founder, Clocr.
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