Identifying a huge opportunity in the professional networking space, 11 entrepreneurs turned investors pump in Rs 1 crore in Noddapp.com. Mumbai-based Noddapp.com is an app based networking platform that helps individuals to discover and meet like-minded people through innovative curated experiences, using data analytics, experiences, and algorithms.
The raised funds will be used to scale up operations and expansion across major metros like New Delhi, Bangalore, Mumbai, Hyderabad, and Chennai. Part of the investment will also be directed towards building a strong team and technology.
The company was incepted in March 2016 by Shubham Rai (Founder-CEO), Praleed Suvarna (Co-Founder-CTO), Rohan Haval, VP (Strategic Alliances and Marketing) and Arpit Bajpai (Co-founder and AVP). Nodd app is an exclusive networking brand globally that follows a reference based model to onboard new members to their platform. The app helps individuals to network with achievers across different walks of life who have excelled in the academic and professional environment. Nodd targets the top 10 %ile of the global population which amounts to around top 170 Million people of the world, including Millionaires, educational achievers, entrepreneurs & professional achievers who love to network for mainly 3 reasons- Business Utility, Learning and Glamour.
Speaking on the investment, Shubham Rai, Founder, and CEO, Nodd said, “The segment that Nodd caters to is an untapped space hence we don’t have any direct competition and that was one of the reasons why we have drawn 11 investors to participate in an angel round of funding. The funds will be used to increase our team size and invest in technology as well as expanding our geographical presence.”One of the esteemed investors Sandipan Chattopadhyay on being asked what he thinks of the curated experiences at Nodd, stated that “Boldly go where start-ups have not gone before… to network”. Another Investor Jaison Jose also quoted that – ” I believe, Nodd is an idea whose time has come, Professional networking and engagement needs to be at the next level, and this team is doing a fantastic job in building the ecosystem.”