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Sourcebits raises $10M India-based smartphone and tablet application developer Sourcebits has raised $10 million in first round funding. The investors — the company’s first — are Sequoia Capital and IDG Ventures India, who each invested $5 million.

Sourcebits will use the funding to set up sales and engineering centers in the U.S and engineering teams in India and Europe. Outsourcing your app development to India will definitely get easier.

Sourcebits is a third-party application developer with 300 engineers and designers. The company claims it does application development for many Fortune 500 companies. Some of the most popular apps developed by Sourcebits include Robokill, Knocking Live, Daily Deeds, Night Stand, Skyfire, and Beast Farm. The company does app development for iOS, Android, BlackBerry, Palm Pre and Windows Phone 7 platforms.

The company was at number 38 spot on Lead 411’s latest Technology 500 list last December.

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