ENTREPRENEUR/STARTUP SPECIAL...LESSON NO.11 FROM REAL EXAMPLES
SRIRAM IYER
Co-founder, United Mobile Apps Betting Big on 4G Opportunities
Mobile broadband wireless technology startup United Mobile Apps (UMA) was launched by friends Sriram Iyer and Arun Samudrala in April 2009. Prior to UMA, Iyer and Samudrala worked with Beceem Communication, which was one of the companies that deployed the world’s first 4G network in South Korea in September 2005. They also attended Startup School 2008 in Stanford, where they came up with the idea of UMA. The firm focuses on building products for next-generation wireless networks, with immediate emphasis on 4G. “The maximum speed provided by 3G is 22 mbps, but 4G can reach up to crazy numbers like 400 mbps,” says Iyer, who wants to make utmost use of 4G technology through United Mobile Apps.The startup has two product lines - Uconnect and Usynchs. Uconnect is connection management technology that helps a user to maintain seamless connectivity as he moves across various wirless networks. Umanage is a service linked to Uconnect. It enables a network operator or device manager to remotely monitor devices, upgrade and configure them without user intervention. Usynchs will serve as a platform for the launch of Kepplr, a cloud-based data synchronisation solution, in September 2012. One of Kepplr’s features allows a person to click a picture on his phone and store it immediately on his laptop. “We ran out of cash in the early days and that was a tough phase,” recalls Iyer, who, along with his partner, operated out of a small rented house for the first six months. The company got an angel round of $200,000 from United Industries, a Chennai-based automotive spare parts company in April 2009. In March 2012, UMA raised $1 million from Mumbai Angels, Blume Ventures, India Venture Partners (Mauritius) and Christopher Preinz and Associates (EU). Iyer plans to use these funds for Kepplr and hopes to break even in early 2013. UMA has tied up with 4G vendors and plans to make its way to the markets where 4G operates. The company has set up a sales office in Japan and will set up offices in the US, Singapore and Malaysia. UMA has also tied up with Altair, a leading semiconductor company.
3 TIPS TO RAISE MONEY
Build a prototype and generate revenue
Co-founder, United Mobile Apps Betting Big on 4G Opportunities
Mobile broadband wireless technology startup United Mobile Apps (UMA) was launched by friends Sriram Iyer and Arun Samudrala in April 2009. Prior to UMA, Iyer and Samudrala worked with Beceem Communication, which was one of the companies that deployed the world’s first 4G network in South Korea in September 2005. They also attended Startup School 2008 in Stanford, where they came up with the idea of UMA. The firm focuses on building products for next-generation wireless networks, with immediate emphasis on 4G. “The maximum speed provided by 3G is 22 mbps, but 4G can reach up to crazy numbers like 400 mbps,” says Iyer, who wants to make utmost use of 4G technology through United Mobile Apps.The startup has two product lines - Uconnect and Usynchs. Uconnect is connection management technology that helps a user to maintain seamless connectivity as he moves across various wirless networks. Umanage is a service linked to Uconnect. It enables a network operator or device manager to remotely monitor devices, upgrade and configure them without user intervention. Usynchs will serve as a platform for the launch of Kepplr, a cloud-based data synchronisation solution, in September 2012. One of Kepplr’s features allows a person to click a picture on his phone and store it immediately on his laptop. “We ran out of cash in the early days and that was a tough phase,” recalls Iyer, who, along with his partner, operated out of a small rented house for the first six months. The company got an angel round of $200,000 from United Industries, a Chennai-based automotive spare parts company in April 2009. In March 2012, UMA raised $1 million from Mumbai Angels, Blume Ventures, India Venture Partners (Mauritius) and Christopher Preinz and Associates (EU). Iyer plans to use these funds for Kepplr and hopes to break even in early 2013. UMA has tied up with 4G vendors and plans to make its way to the markets where 4G operates. The company has set up a sales office in Japan and will set up offices in the US, Singapore and Malaysia. UMA has also tied up with Altair, a leading semiconductor company.
3 TIPS TO RAISE MONEY
Build a prototype and generate revenue
Have a team; don’t trust one person alone
Have customer references before going to VC
Sreejoni Nag ET120706
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