Applicate IT Solutions to raise $5 mn this year

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Applicate IT Solutions Private Limited, a New Delhi-based IT product startup into mobile and cloud-based enterprises solutions, is readying plans to raise $5 million (approximately Rs 31.5 crore) later this year to scale up its operations across Asia, according to co-founder Ranjeet Kumar.

The software-as-a-service (SaaS)-based startup, founded for senior ex-Coke executives Ranjeet Kumar and Deepak Rewadi almost a year ago, has recently raised Rs 3.5 crore from 12 senior corporate professional, including Rishi Vasudev, vice-president at Flipkart, Vishal Chaddha, head (media marketing), HT Media, Rajiv Nayan, director (business development) TCS Canada, and Amit Gupta, vice-president of Urban Infra, the largest PE fund for real estate in India.

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