MobiCart Secures $500,000 Funding

mCommerce app builder MobiCart has secured investment from the UK Finance for Business North East Angel Fund as part of a $500,000 seed funding round. The company says its iPhone app, launched last year is proving a hit, with Android and iPad versions due in the next couple of months, and Blackberry and Windows Mobile apps scheduled for later this year. MobiCart is also developing its own platform and extension marketplace and is working on a web app version of its native app builder.

MobiCart says the investment will enable it to introduce new features to its app builder, including a barcode scanner, virtual coupons and loyalty schemes. “Within the next decade, the whole industry will move to mobile,” says MobiCart CEO and founder, Wladimir Baranoff-Rossine. “MobiCart will be at the forefront with a product that can’t be beaten on price, value or service.”