India app developer platform gets Series A round
Pokkt, an Indian alternative monetization platform for mobile app developers, has secured $2.5 million in Series A funding from Singapore-based Jafco Asia and SingTel’s corporate VC arm Innov8.
Existing investors Jungle Ventures and Ganesh Krishnan, a serial entrepreneur, also participated in the round. Supriya Singh from Jafco Asia will join Pokkt's board.
The new capital will be used to scale up the business, expanding to more than 5,000 app developers and launching new products to help developers get their apps discovered and monetized, according to Pokkt's founder Rohit Sharma. Jafco and SingTel will also asist in expanding operations into Indonesia and Thailand.
Pokkt was founded in 2012 and received backing from India's GSF Accelerator. It helps app developers to monetize their users through a number of models, such as pay-per-download, try-and-buy, virtual goods transactions and subscriptions. For advertisers, the platform provides multiple engagement tools via proprietary transactional advertising technology.
Jungle Ventures invested an undisclosed amount in the company last year.
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