Bhubaneswar Buzz

Bhubaneswar and Delhi based Startup RoboticWares raises $500,000 from Indian Angel Network



 RoboticWares Pvt. Ltd announced on Wednesday that it has raised $500,000 in angel funding from Indian Angel Network (IAN). RoboticWares operates FarEye Mobi, a job scheduling and tracking mobile application. Kushal Nahata, a co-founder of the company, said in a phone conversation that the funds will be utilized for product development and sales enhancement. The company was started in 2009 and launched the application in January 2013. It helps users track workers on the field, dispatch jobs, and collect customer signatures, photographs and various kind of data from the field. “Growth in e-commerce has stimulated growth in logistics. The company is looking to cater the gaps in the logistics sector. The field force market in India is pegged at $60 million with a CAGR (compound annual growth rate) of 63%, hence providing a lot of scope for growth for the company,” Padmaja Ruparel, president with IAN, said over the phone.

Source: LiveMint