Mumbai-based social networking app Nodd, has reportedly raised Rs 1 Cr. in angel round funding from former Just Dial CTO Sandipan Chattopadhyay, IKYA Global associate partner Jaison Jose and other investors.
Founded in 2015 by Shubham Rai, Praleed Suvarna, Rohan Haval and Arpit Bajpai, Nodd is an app-based networking platform that helps individuals to discover and meet like-minded people through curated experiences, data analytics, experiences, and algorithms.
In simple terms, the app lets users add photos and interests to help users follow people, add them to their circles and see their activities.
The raised capital will be utilised to scale up its operations and expand across major cities such as New Delhi, Bangalore, Mumbai, Hyderabad and Chennai. Besides, the funds will also be used for team expansion.
“Nodd caters to an untapped segment and hence we don’t have any direct competition. That was one of the reasons why we have drawn 11 investors to participate in an angel round of funding,” said Shubham Rai.
The app has so far recorded 100 downloads on the Google Play Store. Nodd said it is targeting millionaires, entrepreneurs and other achievers, who tend to network for mainly three reasons – business utility, learning and glamour.