IoT Test Automation Platform Doppelio Raises $1.2 Mn in Seed Funding from Axilor Ventures and Mela Ventures

Funds to be utilized in product R&D and to expand in the US and Europe

Doppelio, a leading IoT Test Automation platform provider, has raised $1.2 Million in pre-series A funding from Axilor Ventures and Mela Ventures. Founded in 2019 by Gaurav Johri, Sharmila Saha, and Rajesh Kathirvelu, Doppelio is already adding significant value to Fortune 1000 companies from diverse industries, such as Automotive, Industrial Engineering, Manufacturing and Connected Products.

Research organizations have estimated that the number of IoT devices will exceed 40 billion by 2026, with a strong CAGR. The number of connected endpoints is expected to be even higher than that. Due to this extensive scale, it is imperative that organizations guarantee their products function seamlessly, minimize product recalls, and, most importantly, prevent any negative consequences on users. However, lab testing of IoT applications is time-consuming, expensive, and still insufficient. This increases the time to market and the risk of failure of connected solutions.

Doppelio enablesthe testing of IoT applications without dependence on physical devices. Its device virtualization, simulation and test automation capabilities enable clients to test comprehensively with speed and reduce their dependence on field trials. With Doppelio, companies can test a wide range of functionalities (including FOTA, remote command and control) and test for performancewith up to a million devices.

Gaurav Johri, CEO at Doppelio, said “The response we are getting from large global enterprisesvalidates that we are solving an important problem for these companies.As connected products proliferate in the coming years, we expect Doppelio to become a critical piece in the IoT ecosystem,We are excited to have Mela and Axiloras investors and this funding will deepen our investments in the product and go-to-market.”

Ganapathy Venugopal, Co-Founder & CEO at Axilor Ventures, said, “Axilor and Doppelio share a common vision of creating category-leading solutions for large global enterprises. IoT devices are becoming pervasive but testing them is still hard. This leads to slower release cycles. Doppelio's advanced testing and simulation capabilities can help enterprises launch better products faster.”

Krishnakumar Natarajan, Managing Partner at Mela Ventures, said, “Doppelio is a great example of a company identifying a relevant and complex global problem and having a simple and impactful solution that can deliver value instantly. I am excited with the traction Doppelio is getting and am confident that they are on a path to becoming the category leaders in this space and being one of the game-changing global product company out of India.”

Doppelio will be at the IoT Tech Expo, Santa Clara, CA, on 17 May, 2023. Visit us at Booth#263 if you are in the area.

About Doppelio

Doppelio enables companies to rapidly test IoT apps by virtualizing and simulating devices at scale. The platform enables the testing of IoT applications for any device, protocol, and scenario.Fortune 1000 to emerging growth leaders across the industries leverage Doppelio’s IoT Test Automation platform to reduce dependence on physical devices, reduce the risk of failure, faster time to market and lower the cost of quality. Visit www.doppelio.com for more information.

About Axilor Ventures

Founded in 2014, Axilor Ventures is among the top 3 most active seed funds operating out of India. Axilor Ventures invests in early-stage startup across sectors in the supply chain/B2B commerce, Enterprise SaaS, Healthtech, AgriTech, Fintech, and consumer internet space. Axilor Ventures was founded and backed by Indian tech pioneers, including Kris Gopalakrishnan, SD Shibulal, Prof. Tarun Khanna, Srinath Batni, and Ganapathy Venugopal.

About Mela Ventures

Co-founded by Krishnakumar Natarajan and NS Parthasarathy, Mela Ventures aims to put Indian B2B SaaS companies that are solving real-world challenges on the global map. They celebrate and support the spirit of entrepreneurship at every stage of the journey. In addition to investment, they also provide guidance and support to achieve collective goals defined by their portfolio companies.

Mela Ventures provides investment, strategy, innovation, research, networking and other mentorships to start-ups and next-generation entrepreneurs.

Leading Cold Chain Solution Provider, TESSOL Raises INR 7.5 Cr from Mela Ventures

Existing Investors, 1crowdAngels and 1Fund, will also participate in this round and top up the current investment

Funds to be utilized to enhance R&D, geography expansion and capacity building

TESSOL, a globally recognised Indian Cold Chain Solution provider that aims to solve the last-mile distribution problem, has raised INR 7.5 crore from Mela Ventures. Existing Investors, 1crowdAngels and 1Fund, will also participate in this round.

The funds raised will be utilised in geographical expansion, capacity building, team building, new products, and application development. The journey of the Mumbai-based start-up is intriguing as they pivoted the greatest pain point, which was the unfeasibility and unreliability of the last mile Cold Chain in India, into a great opportunity for themselves and associated partners.

The company has emerged as the trusted solution provider for leading e-commerce and quick commerce brands, helping them effectively and efficiently move perishable products in the mid and last mile. It’s also strategizing consciously to ensure its solutions are environmentally friendly, thereby reducing carbon footprint and greenhouse emissions.

Commenting on raising funds, Rajat Gupta, Founder & CEO, TESSOL, said, “The Pandemic has led to a sudden increase in the demand for Food and Pharmaceutical last-mile cold chain globally. Having proven our position as a market leader in India, this is the most opportune time to invest in scaling our solutions globally and planning our foray into new application areas. We shall be investing in further enhancing our internal R&D and application engineering capabilities and building the foundation to be a global category leader in this space."

Further adding, Niranjana Neelakantan, Co-Founder & COO, said, “We are thrilled that The Mela has begun for us too! The funds have come in at a very opportune time when the market is showing great promise and excitement for our solutions. The funds would be utilised for capacity expansion and team building. We will soon be onboarding some of the best minds who will help us scale and expand into international markets as well. As budding entrepreneurs, we are also very excited to partner with uber-successful entrepreneurs like Krishnakumar Natarajan and Parthasarathy N.S. We aim to leverage their experience and expertise to take TESSOL to its next level of growth."

Currently, Rajat Gupta and 1crowd are on TESSOL Board. As a part of the process, Mela Ventures will also get on the TESSOL Board soon.

Commenting on investing in one of the largest Cold Chains in India, Krishnakumar Natarajan, Managing Partner, Mela Ventures, said, “Driving environment sustainability is becoming a key priority for societies globally. Current Cold Chain Logistics Solutions, which contribute to GHG emissions, need a huge technology transformation that protects the product quality, saves costs and importantly, delivers sustainability. TESSOL’s range of products, backed by years of research, is leading that transformation. Their solutions have delivered proven results to over 100 customers across the cold chain, including the fast-growing last-mile segment players. TESSOL displays all the characteristics of a global category leader, and we are excited to be partnering with Rajat and Niranjana as they take the organisation to the next level.”

Vidhi Vijayvargiya, Partner, 1crowd, said, “Over the years, TESSOL has pioneered innovation in the cold chain logistics space, with new products that help their clients tackle real-world challenges, increasing efficiency and reducing costs and delighting end consumers. Their end-to-end PCM-based thermal battery solutions with the overarching IoT-based remote monitoring systems open up the vast pharma opportunity and international markets, both of which are immediate priorities for the company. We are thrilled to continue our partnership with Rajat & Niranjana as they envision taking TESSOL to new heights.”

The leading Cold Chain provider has emerged as a market leader in India’s last mile Cold Chain solutions sector. Taking sustainable growth and development into account, it is also further revolutionising the business with its flagship product such as IndiwrapTM The company offers a wide range of solutions for the pharmaceutical, chilled and frozen foods sector.