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Startup ADDA, which provides software solutions for management of housing societies, will invest Rs 15 crore over the next one year to expand its business in India, its co-founder and CEO San Banerjee said.
Established in 2009, ADDA has clients in over 10 countries, including India, the US, the Middle East and Singapore. In India, ADDA has clients in around 80 cities. Its total client base in India exceeds 3,500 Communities.
ADDA provides all features required for managing a housing society - visitor management, billing and collection of society dues, facility booking, assets and inventory, among others. There are several advanced features, including violation tracking and AI-powered community helpdesk.
"We will be investing Rs 15 crore in India operations to expand our presence in the association's segment in the 7 major cities. The fund will also be used to onboard the developers segment that is more sensitised towards resident experience as well as post-sales automation in the current era of AI (artificial intelligence)," Banerjee said.
She said the company aims to grow its revenue from India by 20-25 per cent.
ADDA is a profitable company with revenue completely coming from software subscriptions, she added.
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On the USPs of the ADDA platform, she noted that the company's no advertisement policy ensures that there is zero risk to the privacy of the users, enhancing secure living and data protection in the age of cyber crimes.
Properties of several major developers like DLF, Rustomjee, Prestige, Sobha, Oberoi, Seawoods Estates, and Brigade use ADDA. Some developers like Embassy Group and ASBL in India and Knight Frank Singapore have developed their branded experience powered by the ADDA App, which they use in all their properties.
In India, most ADDA clients are the Resident Welfare Association (RWAs), or Owners Association Management Committee members.
However, for example, in Dubai and most of the Middle East, Owners Association Management Companies (OAMs) who manage multiple communities directly subscribe to ADDA and use it in all their communities.
In the US, like India, Self Managed Homeowners Associations (HOAs) have directly taken subscriptions to ADDA.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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