Aptoide, the foremost alternative Android app store, announced that it has raised €8.5 million investment round from mobile growth platform Digital Turbine. With the funding round, the companies reaffirm their dedication to delivering an open, innovative alternative for app distribution and monetization to app developers, distribution channels, telecommunications operators, and users.
Aptoide says one of the first objectives of the investment is to bolster the realization of its vision for advancing the development and promotion of GamesHub and Catappult.
GamesHub, a joint effort between Digital Turbine and Aptoide, is a game app store that aims to expand its presence in the US market and targets availability on 80 to 100 million devices by the end of 2023.
Catappult, on the other hand, stands as Aptoide’s premier alternative platform for mobile gaming distribution and monetization. Boasting an extensive user base in the hundreds of millions, it serves as the conduit linking developers to over 20 alternative app stores across the globe, simplifying the processes of distribution, promotion, and monetization.
Aptoide states that the second purpose of the investment is to repurchase company stock from current shareholders.
Bill Stone, CEO of Digital Turbine, said: “Our partnership with Aptoide has enabled us to create a highly curated environment for premium app discovery through GamesHub. The expanding partnership leverages technology from both companies to develop new and innovative distribution products for our mobile operator, OEM, and app developer clients. We are excited about the potential of this partnership and the strategic direction we are taking together”.
In October 2022, Digital Turbine announced its investment in Aptoide’s $12 million Series-B, which also included investment from Faurecia, Portugal Ventures, and the 200M Fund, a Portuguese co-investment company.
Back in March, Digital Turbine had announced its partnership with London-based Flexion to help developers boost their app discovery and revenue by growing their audience on alternative app stores offered by leading telecom companies.