Toronto-based Shabodi has raised $3.3 million in what it classifies as an oversubscribed seed round led by Blumberg Capital, an early-stage venture capital firm from San Francisco, California.
With its new capital, Shabodi aims to accelerate the development and deployment of next-generation applications on 5G.
Other investors that participated in the round include Counterview Capital, Shasta Ventures, SineWave Ventures, MAVA Ventures, Green Egg Ventures, Maccabee Ventures, CEAS Investments, Supernode Ventures, and Lorimer Ventures.
“What 4G was to consumers, 5G is to enterprises.”
– Vikram Chopra, CEO of Shabodi
Founded in 2020 by Vikram Chopra and Harpreet Geekee, Shabodi is developing application programming interfaces (APIs) to simplify 5G applications deployment for developers.
The rollout of 5G networks in Canada mostly comes from telecommunications companies, building wireless technologies that would benefit the speed of their clients’ mobile services.
Rogers Communications deployed its 5G network in January 2020, initially launched in downtown Vancouver, Toronto, Ottawa, and Montréal. By September, it expanded its services to over 50 cities. In June 2020, Telus rolled out its first wave 5G network in Vancouver, Montréal, Calgary, Edmonton, and the Greater Toronto Area.
According to CEO Chopra, 5G technology is capable of more than just mobile-based applications such as streaming and downloading. He claims that 5G will be the backbone for internet of things, streaming, FinTech, and other digital technologies.
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“What 4G was to consumers, 5G is to enterprises,” Chopra wrote a LinkedIn article, noting that 5G is more enterprise-driven, where speed and latency matters. “5G will allow new groundbreaking use-cases in virtually every industry, enabling a broad range of services that have not been invented yet,” he stated.
As a startup veteran, Chopra has founded a number of companies throughout his career. Prior to starting Shabodi, he founded Gift Jeenie and CLEARGreenIT and is a founder in residence at Highline Beta.
Before he started at Shabodi as its CTO, Geekee worked at Cisco Systems Canada with the same position, leading partnerships with service providers, technology vendors, and services organizations. After leaving the company in 2015, Geekee also served as the CTO and senior managing director of the financial services vertical at Juniper Networks until 2018.
According to Forum Ventures Managing Partner Jonah Midanik, Shabodi’s founders have deep expertise on all things 5G. “Beyond that, they are first to market solving a huge problem in a game-changing field, allowing businesses to truly leverage all the power of 5G without having to endlessly reinvent the wheel,” he said.
Earlier this year, Shabodi raised an undisclosed amount in a pre-seed funding round led by Forum Ventures and former Cisco and Yahoo executives.
Through its API-focused platform, Shabodi aims to help enterprises, system integrators and telecommunication companies to build applications that tap into the 5G network. Its patent-pending platform enables developers to build and deploy next-generation applications on a 5G network, and the startup claims it is the foundation for a brand new digital economy.
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According to the company, its technology would allow enterprises to monetize their 5G deployments and accelerate their return on investment by “unlocking the full potential of 5G networks and Industry 4.0 applications.”
“Our vision for Shabodi is to provide the building blocks which every next-gen Industry 4.0 application will be built upon, and by doing so empower C-level executives to unlock new revenue streams by deploying 5G within their businesses,” said Chopra.
Shabodi is set to launch its platform by the end of this year.
According to Vishal Gupta of Lexmark Global, which creates innovative IoT and cloud-enabled imaging technologies, Shabodi is building a consortium of partners to help bolster its platform. Gupta noted in Shabodi’s press release that those partners include system integrators, network equipment providers, chip manufacturers, and carriers.
“Every time a network infrastructure is upgraded, developers need to maintain and update their code to work with the new network standards and protocols (or use products that do the same) – which is extremely time-consuming,” Forum told BetaKit. “This is a huge issue in mobile development, where how you use the network can determine how good the user experience is.”
“Leveraging Shabodi’s application … , developers will have the power to easily configure and optimize applications on a 5G network – saving them a ton of time, money, and resources,” they added.