BlackNGreen eyes Rs 350cr revenue;plans to enter 25 nations

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing a revenue of Rs 350 crore in the next one year as it plans to expand reach to 25 more countries. The company, which offers voice morphing services through its flagship 'Magic Voice', is also looking to enter India. For international markets, the Chennai-headquartered firm has tie-ups with major telecom operators including Vodafone, Airtel Africa, MTN, Virgin Mobile and Telenor.

"We are currently present in 60 countries and we are looking to expand our services to 25 more. With this additions we are eyeing a revenue of Rs 350 crore in the next one year as these are very high-growth markets," BlackNGreen co-founder Rahul Gupta told PTI. Started in 2011, the company generated a revenue of Rs 150 crore in the financial year 2014-15.

"Mainly we are now focussing on expansion to some Latin American, North African and the Middle East. I think it will be completed in next one year," Gupta said. He added that India will be a major focus market as the company is in talks with some mobile operators for launching operations here.

"India has become a very matured mobile market. When we launched our services, people here were not ready to work with a small company, so we focussed on foreign niche markets. But now I think it is time to launch our services here," he said.

The startup is also looking to raise funds to fuel the next round of growth and is already in talks with a number of investors. "We are looking for our first round of investment and we are in talks with investors but nothing more can be said at this point of time," he said. The company, at present, has 150 million users and expects to add about 50 million with the foray into new markets and launch of new products.

"We have seen a strong demand for Magic Voice, but now we are introducing a new product called '@home' which will drastically reduce the cost of international roaming. We have discussed the product with our customers and there has been a good response," Gupta said. BlackNGreen has a team of 120 people and has an R&D centre in Gurgaon.