MobiCart raises USD 500,000 from investors

Raises funding

MobiCart, a mobile commerce firm, has raised USD 500,000 from existing investor North East Finance Proof of Concept Fund and the Yorkshire Association of Business Angels, reports StrategyEye. Mobicart offers a hosted platform that allows firms to launch mobile commerce stores on smartphones. As well as providing builder tools which are charged by monthly subscription, depending on the number of items on sale, MobiCart administers the app store submission process. The funding will be used to launch the second version of MobiCart in addition to expanding R&D and sales.

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