Mayank Bidawatka, the co-founder of the recently discontinued Koo site has started his new venture with Billion Hearts Software Technologies. The startup has closed its round of funding at $250K brought in by 13 reputable angel investors. This funding is a big step forward for Bidawatka as they seek to produce new digital products that are so popular worldwide.
Aim of Billion Hearts
Billion Hearts Software Technologies intends to design innovative software applications to serve smartphone users worldwide. Currently, the startup is relatively unknown and offers no explicit details about its services. Mayank Bidawatka has only hinted at the possible consumer app that targets a multibillion-dollar market.
Mayank Bidawatka on one of his LinkedIn posts wrote, “Thanks a lot for the love and blessings for the new venture! Loads of gratitude to have so much support from the good folks here. Billion Hearts as a name represents the dreams of many. And hopefully the usage of billions of users around the world for whom this startup will build beautiful digital products.”
Quotation Source: YourStory
Funding Details
The round of angel funding with $250K attracted 13 investors successful co-founders of redBus, Ola, InMobi, and Myntra alongside the ex-Flipkart CTO. These investors offer not only the capital but also the ideas and contacts that can be crucial for Billion Hearts’ further development. By the time the startup enters the beta launch stage, it will collect sufficient data from users to improve its services. This iterative process will help to achieve the highest quality that is expected by the target group of readers.
Enhancement of team and Innovation
Innovation is the core of the business model of Billion Hearts. This startup company will focus its strategy on building an extensive research system to design and develop products that have an appealing value proposition to consumers globally. The priority will be to create a strong team of backend developers, Android, iOS, and machine learning engineers. At the moment the team has 10 people, all of which work remotely, and the company aims to have 15 employees by the year’s end. Billion Hearts plans to open a co-working center in Bengaluru city.
Opportunities and Challenges
The path to success is bright but does not exclude difficulties and obstacles. This is particularly true in the tech industry where competition is stiff, and it is always necessary to extend the lead or at least maintain the gap through product or service advancement. With the experience of Bidawatka and the support of experienced investors in Billion Hearts, these challenges should not be an issue. They are also using venture capital funding firms to seek seed capital which will be of essence in a startup’s operation and growing from a small company to a large entity. Increasing funding will help Billion Hearts to develop new services and products, as well as attract more clients.
Conclusion
Mayank Bidawatka has started a new firm named Billion Hearts Software Technologies after the shutdown of Koo. With the vision, adequate funding, and emphasis on innovation, the startup will cause a revolution in the design and development of digital products. As Billion Hearts moves to the beta phase of its development, the tech world watches and waits to see what this new direction will bring to the company.
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