Mubble plans to use the funds to scale its technology team.
This is Nilekani’s first investment in any mobile technology company thus far. Earlier this year, he had backed aerospace startup Team Indus.
Founded in 2013 by IIT graduates Ashwin Ramaswamy, Pranav Jha and Raghvendra Varma, Mubble is a mobile app that automatically creates a bill for a prepaid account by tracking its balances, deductions and data usage. It intimates users of charges incurred after every call, SMS or data session, and saves this information on the device for future reference.
The firm claims to have clocked over half a million downloads till date. The app is designed to work offline and is available in multiple Indian languages.
“Mubble brings unprecedented transparency and empowerment to the smartphone user by democratising technology and solving key problems of smartphone adopters across India,” Nilekani said, adding that the investment is part of his belief in the power of ‘Digital India’ campaign launched by the Indian government.
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