January 19, 2021 4:26 pm
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Appboxo raises $1.1 million in seed funding

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Singapore-based has secured $1.1 million in seed funding led by FF APAC Scout, 500 Durians fund, Plug and Play Ventures, and Antler. The company enables any app to become a super app by providing integration software to allow the launch of within other native super apps, a statement said. It added that through such integrations, Appboxo aims to act as a link and create an ecosystem of interconnected miniapps, allowing for global partnerships across industries.

Appboxo aims to revolutionise the mobile app industry, scale its platform and further develop its proprietary technology with this round of funding, claimed the statement. The counts Booking.com, Klook, Zalora, and multiple other global companies as its partners.

“Appboxo is in a unique position to revolutionise the mobile app space via its platform. India is the second country in the world widely adopting miniapps as a new digital channel after China. PhonePe, Paytm and Google Pay all launched their own miniapp platforms and show good results in terms of miniapp engagement and adoption. Our vision is to democratise this space and enable any app in India to become a super app and offer multiple services via our platform,” informed Kaniyet Rayev, CEO, Appboxo.

There is an importance and growing reliance on mobile apps in emerging markets which presents a significant opportunity for Appboxo and its partners, the statement emphasised.

The startup also partnered with major enterprise partners like banks, telcos and mobile wallets to turn their apps into super apps.

“We are excited to work with excellent founders to help them realise their vision of disrupting the tech industry. Appboxo is well primed to facilitate global partnerships between companies in various industries. In the current market of super apps such as WeChat and Alipay, Appboxo offers the opportunity for any app to follow in their footsteps. This would cater to the growing consumer need for an efficient and integrated user experience,” said Vishal Harnal, General Partner, 500 .

Alireza Masrour, General Partner, Plug and Play Ventures, said, “We love the vision that the Appboxo team has, which is to be a Global Distribution System (GDS) for Miniapps that helps globalise app capabilities with their inner connectivity services for any major application in the market.”

Adding to it, Jussi Salovaara, Co-Founder and Managing Partner, Antler, said, “This trend in superapps has been growing but only very large players have been able to create such integrated massive platforms. Appboxo is leading the way to democratise this space and let smaller businesses leverage on the super app phenomenon.”

Founded in 2019, the company plans to use raised funds to scale its platform and further develop its proprietary technology. It plans to add new miniapps in travel, ecommerce, finance and lifestyle industries to cover more use cases for integrations by super apps, the statement notified.

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