Marketing Professor, Gautam Challagalla of business school IMD, Switzerland has invested an undisclosed amount in a Mumbai-based startup NearU
“The NearU team is excited to have Gautam Challagalla as one of its investors as his expertise in marketing will help it pave the way for its future marketing plans and expansion in international regions,” said Hemanth Meka Rao, founder and CEO, NearU Mobile Pvt. Ltd.
NearU is a location-based mobile app for deal discovery. The startup follows an online-to-offline model connecting users to outlets. The app showcases live information on exciting deals and offers run by nearby retail brands and outlets. The NearU app has streamlined the offers into nine categories—apparel, accessories, food & beverage, electronics, health & beauty, entertainment, home & living, hotels and automobiles. The startup has its presence in eight major cities across India.
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Rao is also a director at Mumbai-based Meka Group which has interests in civil and marine construction, dredging and reclamation, subsea pipelines, port construction and development, real estate, IT and healthcare.
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“NearU app is an innovative marketing platform for the retailers and I see a lot of potential in its vision,” said Challagalla as reported by VCCircle.
Challagalla is known for its expert advice to several Fortune 500 companies including IBM, HSBC, UPS, EY (formerly Ernst & Young), GE and Swatch Group, among others.