Aspada, Qualcomm back India's Reverie with $4m

Reverie's platform offers internet companies a cloud-based way to add local language support to their products, which is particularly important in India given the large number of local languages. The company's founders aim to help app developers add support for minority languages without having to program it themselves.

"We believe Reverie's language platform will enable every app developer to expand their reach by an order of magnitude, while at the same time, boosting stickiness, engagement, and conversion across the board," said Aspada Vice President Sahil Kini in a statement. Kini will join Reverie's board as part of the transaction.

Reverie will use the new funding to increase its presence in the consumer internet, financial services, government and enterprise software sectors, and also to build its sales and marketing efforts in the Middle East and Southeast Asia. The company hopes to have its platform used by more than 10,000 local language app developers within the next 18 months.

Aspada, which is backed by the Soros Economic Development Fund, targets investments in India across several sectors, including agricultural supply chains, financial services, and healthcare. Recently it committed $3.3 million to Delhi-based online farm equipment rental platform EM3 AgriServices.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• South Asia
• Support services
• Technology
• Early-stage
• Venture
• India
• Aspada Investments
• Qualcomm Ventures
• Technology
• Venture