Kaagaz Scanner, an Indian mobile app secures $575,000 in funding led by Pravega Ventures – Business News , Firstpost

Kaagaz scanner, an Indian mobile software for doc scanning and storage functions has raised $575,000 in a funding spherical led by Pravega Ventures, alongside Axilor Ventures, Better capital and some angel traders together with Phanindra Sama (Founder of Redbus), Farooq Adam (Founder of Fynd) and others. Kaagaz was based in June 2020 by Snehanshu Gandhi, Gaurav Shrishrimal and Tamanjit Singh Bindra.

Kaagaz has, since its launch, been put in in over 1.9 million mobile telephones with over 90,000 individuals utilizing the applying each day. The software helps 8 Indian languages and quickly rose after the ban on Chinese purposes. With its concentrate on privateness, the applying requires no signal-ins, can be utilized offline and likewise affords distinctive options similar to customized watermarking. The software has additionally been acknowledged by the Government of India as a part of the AatmaNirbhar App Challenge, the place it was given a particular point out in the workplace apps class.

Earlier, First Cheque and Axilor Ventures additionally backed the startup in its pre-seed spherical of funding.

Thank You @PravegaVC for main our Seed Round. @AxilorVentures & Better Capital additionally participated in this spherical together with just a few Angels.

An enormous because of all our supporters and customers, hold supporting us! pic.twitter.com/eqPe6AI21Y

— Kaagaz Scanner ( कागज़ स्कैनर ) (@KaagazS) November 28, 2020

Excited to announce our funding in @KaagazS

Look ahead to constructing for Bharat with @GandhiSnehanshu @1992gaurav @tamanjitbindra https://t.co/JQfB5glRjf

— Pravega Ventures (@PravegaVC) November 28, 2020

Speaking on the funding to Yourstory, Lead investor Pravega Ventures stated, “Today, a smartphone is at the epicentre of most of our personal and business exchanges, and we at Pravega, are very excited to partner with the Kaagaz team as they build out powerful AI-based utility products for the ‘Bharat’ users. The Kaagaz team aims to leverage its proprietary mobile-based document scanner and create a repository of documents in its quest to become a key node in the exchange and storage of information for their users.”