MobiCart provides a platform for businesses to create and manage mobile commerce stores as native Android or iOS apps or as HTML5 web apps, which can operate standalone or tie into existing websites. The platform is supported by an ecosystem for third‑party extensions. Following a boardroom dispute and the founder’s departure, MobiCart has restructured under investment from Asian incubator Get2Volume and relocated operations to Singapore. Get2Volume’s Claire Mula and Geogy Zachariah will lead product execution and technology respectively, and the company says it has bolstered customer support. Financially, MobiCart had previously raised almost $1 million from the Finance for Business North East Proof of Concept Fund (managed by Northstar Ventures), the Yorkshire Association of Business Angels, and founder backing; terms of the new investment were not disclosed. MobiCart offers a fully hosted platform for companies to launch dedicated m-commerce stores as native iOS and/or Android apps or via HTML5. The service includes storefront builder tools sold as a monthly subscription (priced by needs such as number of items), and MobiCart can handle app-store submission. The platform can be used standalone or integrated with an existing website, e-commerce solution and inventory. The company says it has reached its 11,000th customer. MobiCart was launched in September 2010. The company announced additional funding to support product development and sales, and a board appointment to strengthen payments expertise. MobiCart provides a free service that enables users to build a native storefront for Apple iOS devices. The product is currently available for iPhone and iPod touch. The company plans to add iPad and Android support in July and will release an HTML5 web app version. Financially, MobiCart raised $500,000 in a seed funding round in March led by the UK’s Finance for Business North East Angel Fund and has now received a £100,000 investment from Stephen Lusty. Lusty joins the company as Chairman and runs a startup-focused investment vehicle; he previously served as Google’s European director of online sales and operations. The article does not disclose revenue or user metrics. MobiCart offers a free service that lets users build native storefronts for Apple's iOS. The company plans to expand support to Android within eight weeks and add BlackBerry and Windows Mobile later this year. It is introducing new app-builder features including a bar code scanner, virtual coupons, and loyalty schemes. MobiCart is developing its own platform and extension marketplace and is working on a web app version of its native app builder to reach a wider audience. The company secured a $500,000 seed funding round with participation from the UK's Finance for Business North East Angel Fund. CEO and founder Wladimir Baranoff-Rossine said the investment will help advance the company's vision for the future of mobile commerce.

Total raised

$1M

Funding rounds

4

Latest round

Equity

Latest activity

Oct 2012