Gurgaon based Instant Messaging App Yup! has raised a $500,000 (over Rs 3 crore) seed funding round led by Arun Khanna, chairman of Olive Telecom, and Harsh Khanna, test lead at HTC, VC Circle reported.
“The funding is being used to turn Yup! into a go-to destination to access all kinds of information that are of human interest, with a single click,” said Tushar Malhotra, co-founder of Yup!.
Yup! is an instant messaging app developed by Gurgaon-based Nucleus Research Pvt Ltd founded in June this year by Malhotra and Yogesh Huja. Yup! is now targeting to raise $10 Million in a Series A round of funding, and has already appointed US-based accounting and advisory firm Grant Thornton to run the mandate. The capital would be used for marketing and also to roll out the app in eight languages including Hindi, Tamil and Punjabi.
What differentiates Yup! from other IM apps is its one-click interface and its ability to work on low bandwidth, therefore is easy to use and smooth to operate. Yup! acts almost like an online pager machine, wherein all you require is a single click, to send your message across to other app users. The app houses some in-built templates which consist of important messages one may require to send urgently. It also contains several other features like opinion polls etc.
Yup! is available across all platforms, including iOS and Android competing with other messaging apps like WhatsApp, Line, WeChat and India’s home-grown IM service Hike, which recently raised whopping $65 million from Tiger Global. According to Malhotra, the app has seen over 2 lakh downloads since launch.