India-based mobile app developer and distributor AppsDaily has raised a $16m series C round from investors including Qualcomm Ventures, the corporate venturing arm of semiconductor company Qualcomm and technology company Ru-Net, VCCircle reported yesterday.
The round was led by Zodius Capital and featured Kalaari Capital. Some unnamed private investors, who had backed AppsDaily through Mumbai Angels, meanwhile exited.
In 2013, AppsDaily received a $5m series B round from Ru-Net, Qualcomm Ventures and IndoUS Venture Partners. It secured a $4m series A round from Qualcomm Ventures and IndoUS in 2011 and a $1m seed round from Blume Ventures and angel investors in 2010.
Founded in 2008, AppsDaily develops and markets mobile apps, but instead of selling apps through established online stores such as iTunes and Google Play, the company sells them through offline retail stores in India.
The company will use the series C funding to expand its product offering, launch a digital platform, increase its retail distribution reach and grow its management team.