SAN FRANCISCO--(BUSINESS WIRE)--Propel(x), an online angel investment platform that helps investors source, evaluate, and fund pioneering science and technology startups, today announced that Silverlabs, Inc., a company that is reimagining social interactions and interfaces on mobile devices for Social 3.0., is raising growth capital on Propel(x)’s platform. Key to this novel social media experience is the Urban app, that uses patented technology to create custom photo filters that allow expression of thoughts in graphical short forms. Silverlabs, founded by Vidya Narayanan and Lakshminath Dondeti, provides Urban users novel ways to network and socialize, while giving brands unprecedented tools for measuring engagement and cultivating and growing their customer community.
About the Technology
Urban by Silverlabs allows its users to create and share custom filters and stories with friends, around locations or related to their favorite brands. To this end, Silverlabs has built a differential context engine which creates personalized filters and stickers based on, for instance, current and historical geographical position, visited places, current weather, or the time of the day. In addition, they developed comprehensive engagement measurement, dynamic real-time graphics generation and dynamic group management, all optimized for fast, fun and conversationally relevant social sharing. Together, this proprietary technology enables powerful communication and networking experiences for users and visibility and marketing opportunities for brands. Urban is live on the iTunes app store with over 25k users in 5 weeks.
“Propel(x) has served as a great platform for us to interact with experienced angel investors and tell our story,” said Vidya Narayanan, Co-Founder of Silverlabs. “We are encouraged by the success we’ve had on Propel(x)’s platform and look forward to reaching our current fundraising goal of $520,000. As our product continues to gain momentum, we are moving closer to creating a habit of sharing daily custom filters for various shareable moments.”
“Within 20 days of launching, Urban had over 10 thousand users with a 10x lower acquisition cost than industry average, providing a strong validation for product-market fit,” said Swati Chaturvedi, CEO of Propel(x). “Silverlabs’ Differential Context technology has disrupted the way we communicate by creating the next prototype of social communication, and we look forward to seeing what the future of Silverlabs has in store.”
Financing the Future
Propel(x) was founded to help angel investors identify, understand and invest in breakthrough technologies in sectors including life sciences, computer sciences, energy & clean technology, new materials and space. Not only are investors who invest in science and technology companies financing some of most innovative technologies, they are also investing in some of the most lucrative - deep technology companies account for the majority of the DJIA index today.
Propel(x) Inc. is an online investment platform that connects science and technology startups with angel investors in order to unleash huge innovations, grow great businesses, and have an impact on the way people live. Founded in 2013 by CEO, Swati Chaturvedi and Lisheng Wang, Propel(x) introduces its members to ground-breaking startups that are developing new forms of clean energy, life-saving drugs, new methods of space exploration, and innovative new materials amongst others. By facilitating private funding for startups based on scientific and technological breakthroughs, Propel(x) seeks to change the world and build the next generation of great companies. For more information, please visit: www.propelx.com.
About Silverlabs, Inc.
Silverlabs Inc. is a software company whose mission it is to build the best of contextual interactive storytelling experiences. Founded in 2015 by Vidya Narayanan and Lakshminath Dondeti, the company launched its first public app, Urban Stories in September 2016. For more information, please visit urbanstories.us.