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India's Robosoft Technologies gets $3m from Kalaari Capital

  • Mirzaan Jamwal
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India-focused Kalaari Capital has invested INR220 million ($3.69 million) for a minority stake in mobile apps and games developer Robosoft Technologies. Kalaari Managing Director Kumar Shiralagi and Vice President Sumit Jain will join the Robosoft board.

Robosoft builds applications for the iOS, Android, and Windows platforms for clients. It had revenues of around INR500 million ($8.3 million) for the 2013 financial year. The majority of its business comes from the US, but the company is now expanding in Europe, the Middle East and India.

The new investment from Kalaari will help set up new offices globally, add new sales, design, engineering talent and help Robotech move toward a full-service model, growing beyond its current engineering-driven capability into providing solutions for app strategy, design, development and marketing

About 40% of the funds raised will be allocated to two fully-owned subsidiaries, Global Delight, which creates the company's own apps, and 99Games Online to develop in-house games. The capital would go into marketing products from these subsidiaries over the next 12 months.

The Internet and Mobile Association of India estimated the mobile apps market in the country to be worth INR18 billion in 2012.

The $150 million Kalaari Capital Partners II fund has also made investments in video platform Apalya Technologies, e-learning portal Simplilearn, online furniture retailer Urban Ladder and Snapdeal.

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