He said that the pandemic-induced growth has been conscious as it was anticipated that demand would surge. Keeping in line with this, Baskar said the company more than doubled its team size and invested significantly in sales and marketing to ride the wave.
“As a result, we are now amongst the fastest growing SaaS start-ups in Chennai and among the fastest growing Mobile App Builders in the world. As we look forward, beyond the pandemic, we anticipate that we would continue to grow in triple digits over the next year,” he said.
Vajro is a SaaS startup with a no-code Mobile App Development Platform (MADP) and is currently aligned with Shopify and helps the stores to get their own iOS and Android apps without needing to write a single line of code. It is an instant, automated app builder with which you can create native Android & iOS apps for E-commerce stores.
“We are seeing that some of the top brands in India use Vajro for their mobile apps. Leading brands like Juicy Chemistry, AndMe, Prashanti Sarees, Uthraa India and Earth Rhythm use Vajro for their mobile app. Every quarter, we acquire marquee clients not only in India, but also across the world. In fact, 70% of our clients are from North America,” he said.
The pandemic has been a boon for the company as demand has “shot through the roof,” Baskar said. This is primarily because he believes Covid-19 fundamentally changed human behaviour and as we started to witness a new world order driven by social distancing and masking, the shift towards e-commerce was swift and decisive. This, in turn, led to a huge surge in demand for platforms like Vajro that enable mobile commerce.
Going forward he sees immense potential for growth as Vajro is a No Code/Low Code Platform and since Vajro is in a niche space (No Code/Low Code platform for the e-commerce industry, he does not see any threat from diversified cloud companies.
“The Low Code Development platform market is expected to grow from USD 13.2 billion in 2020 to USD 45.5 billion in 2025, according to Gartner. Vajro’s own research indicates that less than 1% of all e-commerce stores in the world currently have mobile apps. Hence, we have not even scratched the surface and the scope for growth is really, really huge,” he said.
Since it is a SaaS platform that operates on a recurring billing model and is tightly integrated with Shopify, syncing the products and catalog information from the platforms’ backend is faster, easier and quicker. So, building and deploying native mobile apps for both Apple and Android platforms is straightforward and simpler, the company said. However, Baskar said the biggest challenge is talent acquisition.
“The single biggest challenge for us has been acquiring the right talent that would help us to continue to grow at the break-neck speed at which we are growing now. We have grown at over 700% over the past 12 months. However, as we try to sustain that triple digit growth, we need good talent to join our workforce. On the one hand, Chennai has been a hotbed for large SaaS companies and that has ensured good overall availability of talent pool. However, that has also meant that we fight with top SaaS companies in the world in our own backyard for talent,” he said.
He also revealed that the company is in the market and is looking to raise growth funds.
“Vajro has raised $300k so far and that has led us to multi-million dollars in revenues and we even turned profitable in Jan 2021. We are looking at a funding partner who can help us move to the next level of growth. We are in touch with some of the tier one VCs in India and looking at closing out funding in the next few months,” Baskar said.