Lowdownapp Ltd. has become the first investment by the recently formed United Kingdom operations unit of the Indian Angel Network (IAN), according to a statement released by IAN. The amount of investment made by IAN in the London based company has not been disclosed yet. Lowdownapp Ltd. is the mobile software company behind Lowdown mobile application which allows time crunched business professionals to access critical information about the important meetings in advance.
The mobile application is faster than the search option and works by fusing together a custom built narrow artificial intelligence engine and the inbuilt calendar of your Smartphone. The mobile app provides a very uncluttered and clear view to its users by bringing together real time data from various Internet based information sources such as Twitter and LinkedIn.
The mobile app can prove to be a great help to business professionals and increase their productivity by manifolds as according to some recent figures, a business professional spends an average of 1.5 days per week in meetings and dedicates an extra 0.5 day per week in preparing for them. Further, some studies have also revealed that the usage of Lowdown app can result in saving of two hours of preparation time per week, which would further result in saving of twelve working days in a year, which is huge for business professionals as for them each minute counts.
This investment made by IAN with the help of UKTI Innovation Gateway marks the first investment made by the network in the UK. Indian Angel Network had recently become the first Angel group in the world to launch its operations outside its home country.
According to the statement released by IAN, the network found the company to be extremely attractive. The statement further added "with an ever increasing number of smartphone users and better bandwidth capabilities the mobile applications space is set to become a market of the future. Lowdown being a forerunner in the information based mobile apps category simply offers the perfect combination of the right technology, a passionate team and focused approach."
The investment raised by Lowdownapp will be used by the company to fund outreach to its corporate clients globally and expand its reach to self-employed individuals and customers.
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