Applicate IT Solutions to raise $5 mn this year

Applicate has launched EXEED which it claims to be world's first uni-channel platform for a seamless execution across functions, roles and channels

Applicate IT Solutions Private Limited, a New Delhi-based IT product startup into mobile and cloud-based enterprises solutions, is readying plans to raise $5 million (approximately Rs 31.5 crore) later this year to scale up its operations across Asia, according to co-founder Ranjeet Kumar.

The software-as-a-service (SaaS)-based startup, founded for senior ex-Coke executives Ranjeet Kumar and Deepak Rewadi almost a year ago, has recently raised Rs 3.5 crore from 12 senior corporate professional, including Rishi Vasudev, vice-president at Flipkart, Vishal Chaddha, head (media marketing), HT Media, Rajiv Nayan, director (business development) TCS Canada, and Amit Gupta, vice-president of Urban Infra, the largest PE fund for real estate in India.

"Much like our product platform, we have done our initial fund raising also in an innovative way from a network of senior corporate professionals working at leadership positions in different companies," Kumar said.

"More than the amount invested, their participation speaks of the confidence they have on our product and it helps us in getting cross industry insights and expertise which significantly enhances our ability to customise our solution for different segments and industries."

Applicate has launched 'EXEED', which it claims to be the world's first 'uni-channel' platform for a seamless execution across functions, roles and channels. EXEED (execution, effectiveness, engagement and data analytics) eliminates the need for different apps for different channels, functions and roles.

According to Deepak Rewadi, the uni-channel platform is a great value addition to the organisations who have to depend on different applications and vendors for different functions which by design is inefficient without a unified and integrated interface and database.

EXEED comprises apps like 'Trade GINI' for connecting the channel partners, 'REMOTE' for tracking the effectiveness of promotions and below-the-line marketing campaigns and 'KIT' for knowledge, insight and training apart from the next-generation sales force effectiveness app 'TEEM' for retail and 'Store CONNECT' for emerging channels.

"Applicate is already working with some of the top Indian multinational companies like Kelloggs, Britannia, Pidilite, Madura Cements, Hero and AppsDaily at pilot or scale-up stage. It is at the final state of closing the formal agreement with 22 more companies," Kumar said.