Urban By Silverlabs Seeks $520,000 in Growth Funding Through Propel(x)

Earlier this month, online angel investment platform Propel(x) announced Silverlabs, Inc., a company that is reimagining social interactions and interfaces on mobile devices for Social 3.0, is seeking to raise $520,000 in growth funding for its Urban app.

urbanAccording to the company, Urban by Silverlabs allows users to create and share stories with friends, around locations or related to their favorite brands. Silverlabs has notably created a differential context engine that creates personalized filters and stickers based on current and historical geographical position, visited places, current weather, or even the time of the day. The company has also developed an engagement measurement, dynamic real-time graphics generation and dynamic group management, which are all optimized for fast, fun and conversationally relevant social sharing. 

Urban is currently live on the iTunes app store and has had more than 25,000 users in just 5 weeks. Vidya Narayanan, Co-Founder of Silverlabs, stated:

“Propel(x) has served as a great platform for us to interact with experienced angel investors and tell our story. 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.”

swati chaturvedi propelSwati Chaturvedi, CEO of Propel(x), then added:

“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. 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.”

Since its launch, Silverlabs’ initiative has raised $345,000.

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