US-based Instant mobile app platform Vajro raises USD 8.5 million in Series A

Vajro, a US-based instant mobile app platform that lets users create instant mobile shopping apps for their e-commerce stores, raised USD 8.5 million in a Series A funding round from US-based Five Elms Capital on 25 January 2022.

Investor: Five Elms Capital is a global growth equity firm that invests in fast-growing B2B software businesses. Five Elms offers capital and resources to help companies accelerate growth and further cement their role as industry leaders. Since its inception in 2007, Five Elms has focused exclusively on software investing, building an unmatched network and deep domain expertise. Today, with over $1.5 billion in assets under management and a global team of over 60 investment professionals, Five Elms has invested in more than 50 software platforms globally.

The Objectives behind the funding: The company will deploy the current proceeds to add additional functionalities and features to its platform. The company will also utilise the funds to increase its foothold in the market and acquire new users. 

About Vajro.

Founded in 2016 by Baskar Agneeswaran, Niwin Santhosh and Raghuraman Ramamurthy, Vajro is a cloud-based mobile commerce platform that lets users create instant mobile shopping apps for e-commerce stores. The startup’s expertise involves end-to-end software development and web application development for e-commerce businesses. It enables clients to develop and deliver content for their mobile audience and focus more on their core businesses. The company claims to have 2,200 clients across 150 countries. Many Indian D2C brands use Vajro, including AndMe, Prashanti Sarees, Earth Rhythm, House of Masaba, among others.

What the Founders have to say:

Echoing the sentiment, Vajro CEO, Baskar Agneeswaran, said, “Vajro will use its Series A funding to develop its next-generation platform with new features and flexibility and to build integrations with other e-commerce platforms such as WooCommerce, Magento, and others in order to expand its reach even further.”

Adding to this, Vajro COO Niwin Santhosh also said, ”We have attracted new investors because, unlike others, Vajro is a platform built on technologies native to both Android and iOS. We also allow e-commerce merchants to make changes on the fly, without needing to update the app each time.”

What the Investor has to say:

Speaking about the association, Five Elms Capital’s Daniel Bjornson said, “Most e-commerce stores are optimised for desktop web traffic while 80 per cent of traffic is coming from mobile devices. Vajro solves this problem by reducing the friction of traditional mobile commerce quickly and effectively. Our partnership will allow the team to continue to invest in the product and drive increased mobile sales for their clients.”

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