Vajro, a cloud-based mobile commerce platform that creates instant mobile shopping apps for e-commerce stores, has grown over 800% since January 2020, said Baskar Agneeswaran, CEO of the Chennai-based SaaS startup .
He said the pandemic-induced growth was conscious as demand was expected to increase. Consistent with that, Baskar said the company has more than doubled its team size and invested heavily in sales and marketing to keep up the wave.
“We are now one of the fastest growing SaaS start-ups in Chennai and one of the fastest growing mobile app builders in the world. Looking ahead, beyond the pandemic, we expect that we will continue to grow in the three-digit range, “next year,” he said.
Vajro is a SaaS startup with a No-Code Mobile App Development Platform (MADP) and is currently geared towards Shopify, helping stores get their own iOS and Android apps without having to write a single line of code. It’s an instant, automated app builder that you can use to build native Android and iOS apps for ecommerce stores.
“We are seeing some of the top brands in India using Vajro for their mobile apps. Leading brands like Juicy Chemistry, AndMe, Prashanti Sarees, Uthraa India and Earth Rhythm use Vajro for their mobile apps only in India but also around the world. In fact, 70% of our customers are from North America, “he said.
The pandemic is a blessing for the company as demand “has shot through the roof,” Baskar said. This is primarily because Covid-19 fundamentally changed human behavior and when we saw a new world order fueled by social distancing and masking, the move to e-commerce was quick and decisive. This in turn led to a huge increase in demand for platforms like Vajro that enable mobile commerce.
He sees immense growth potential in the future, as Vajro is a no-code / low-code platform and since Vajro operates in a niche area (no-code / low-code platform for the e-commerce industry), he sees no threat from diversified cloud companies.
According to Gartner, the market for low code development platforms is expected to grow from 13.2 billion US dollars in 2020 to 45.5 billion US dollars in 2025. Vajro’s own research shows that currently less than 1% of all e-commerce shops worldwide have mobile apps. ” So we haven’t even scratched the surface and the room for growth is really huge, ”he said.
Since it is a SaaS platform based on a recurring billing model and tightly integrated with Shopify, the synchronization of the products and catalog information from the backend of the platforms is faster, easier and faster. So creating and deploying native mobile apps for Apple and Android platforms is straightforward and easier, according to the company. However, Baskar said the biggest challenge is attracting talent.
“The biggest challenge we faced was finding the right talent who would help us grow at the breakneck pace at which we are now growing. We have grown over 700% in the last 12 months We are trying to maintain this triple digit growth, we need good talent to add to our workforce. On the one hand, Chennai has been a hotbed for large SaaS companies and that has ensured good overall availability of the talent pool. We are competing for talent with the best SaaS companies in the world in our own backyard, “he said.
He also announced that the company is in the market and looking for growth funds.
“Vajro has raised $ 300,000 so far and that has resulted in millions of dollars in revenue and we actually became profitable in January 2021. We are looking for a financing partner who can help us reach the next level of growth. We are in contact with some of the Tier 1 VCs in India and are considering closing the funding in the next few months, “said Baskar.