Bangalore: Bangalore based data sharing startup, CollateBox Inc, which has developed a cloud based online platform to allow enterprises for a collaborative work with their employees on multiple projects, has secured $180,000 (Rs.-1.2 crore) from a group of angels and Hyderabad-based technology incubator Teninnovate through equity crowd funding platform LetsVenture. The freshly raised funding will be mainly used for taking the products to the global markets.
To eliminate spreadsheets and excel clutter, the enterprise collaboration startup, CollateBox founded in 2012 by engineers Ravindra Krishnappa and Ralph Vaz has released a product which allows enterprises to share, collect and act on large set of data and collaborate with their teams using the cloud in a secure manner. On every record, user can get a notification and a summary of their data. It follows a simple tabular method for data entry and maintains a relevant data structure with proper validation. The beta version of the product was released in mid 2014.
Ravindra Krishnappa, Co-Founder & CEO of Collate-Box is an angel investor with more than 28 years of technology experience and has worked with Oracle. Prior to this, he founded Inatech InfoSolutions. Another CEO of Collate Box, Ralph Vaz has worked with companies such as XP Software solutions, APAC, EPiServer and founded Wolf Frameworks India Pvt Ltd.
Ravindra Krishnappa say “We were seeking to raise $150,000 (Rs.90 lakh), but we received such an overwhelming response to the products and ended up raising 20 percent more than what we expected. LetsVenture helped us to reach out the investors beyond our circle”.