The company claims to have more than 1000 stores live on their platform.
Hyderabad based applications provider Reasoning Global eApplications Limited has raised $1million from UK based HNI'S (high networth individuals).The fund raised will be utilized for expanding the marketing and operations in India by scaling up the operations on the national basis.
This is the second round of funding for the company which raised Rs 3 crore from angel investors last year. The angel investors in the first round included Atim Kabra of Frontline Ventures, Raman Kumar of Cbay Systems, Ashish Mehta of Reliance Asset Management and L.V.N. Muralidhar of Lastaki Management Consultants.
Reasoning Global eApplications Limited provides applications to retailers and manufacturer to drive traffic from the internet and mobile to their local retail stores. Reasoning solutions offer a concentrated marketing effort to the brands by using internet and mobile as customer touch points.
"We are basically making the retail chains and stores searchable on the internet along with their updated information." Said Girish Kasliwal, VP, Reasoning Global eAplications Limited.
The firm's revenues come from the one time set up and integration fees that it charges the retailers to come online, per store per annum fee, pay per customer charges, revenue from user SMS to the short code, lead generation through this platform and the banner and text advertisements.
The company was formed in October, 2006 by Abhay Deshpande in Hyderabad. Currently, the company employs 140 people and has offices in Gurgaon and Mumbai. Reasoning allows customers to find products, brands, or sales locally, and to scan the inventory at any given shopping center. The company claims to have more than 1000 stores live on their platform.
http://in.reuters.com/article/indiaDeals/idINIndia-37345520090108
