Founders of Indian SMS-based offline search engine seek $500K in seed funding for Jelly rival
Co-founders of Indian SMS-based offline search app Innoz are trying to raise $500,000 seed money from 500 Startups and angel investors to create a US rival for the Jelly app. The app, called Quest, now available on Android with an iOs version to be rolled out soon, according to TechCrunch.
Quest will use geotagging in its question-and-answer (Q&A) platform to help users locate nearby people who can answer their queries about various topics. The Jelly app uses Facebook and Twitter to find the answers to questions. Quest, on the other hand, plans to form a registered community of users for that purpose, the report explained.
Innoz was co-founded by Mohammed Hisamuddin and Deepak Ravindram. Both of them are moving from their Bangalore headquarters to join the February batch of 500 Startups. The founders have already brought in AltaVista founder Louis Monier, Samsung research director Pranav Mistry, and angel investor Asha Jadeja as board advisors, the report detailed.
In addition, Hisamuddin and Ravindram are also buying back their shares in Innoz from Seedfund, the firm's only external investor. Seedfund had provided a $3 million investment in the search engine app, TechCrunch reported.