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Mumbai-based Appie Mobiquity Pvt. Ltd. backed location-based offline retail discovery platform Appie has raised $1 million in a bridge round of funding from a Mumbai-based angel investor and two European investors. The startup aims to utilize the new funding for product launch, customer acquisition and business development. The investor names are still undisclosed by the company.

Founded in 2014 by Kartik Sanghavi, Appie allows users to discover local fashion, home decor, electronic and mom and pop shops. Discover millions of products from local retailers on your mobile partner Appie which helps you to locate wide range of products right from mobile phones, electronics, groceries, watches, fashion clothing and accessories.

The firm has so far tied up with 1,200 retailers in Mumbai and charges a commission of 0.2-0.9% per transaction from the retailers. The startup plans to add 10,000 retailers across three cities and expand user base to half a million in the first year.

Appie competes with players like Fashalot, Zakoopi and Ratale. Last month, location-based fashion and store discovery mobile platform Fashalot, had raised an undisclosed amount in its pre-Series A funding round, led by YourNest Angel Fund and angel investor Rajul Garg.

Paytm has also been enhancing its presence in the O2O space, acquired Near.in, an app that connects users with local businesses for home services, last year.

Image Source: ShutterStock

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