EsportsXO Raises Next Funding Round Led by SOSV’s Orbit Startups and SucSEED Indovation Fund

Bengaluru-based EsportsXO secures next tranche of strategic investment to fuel expansion and growth

EsportsXO, a frontrunner in the esports and gaming startup landscape in India, announces an undisclosed amount in its ongoing funding round. The funding round was led by renowned investors SOSV’s Orbit Startups and existing investors SucSEED Indovation Fund and Mumbai Angels, with participation from other strategic backers such as WeFounderCircle and Imperial Holdings. This investment signals a crucial milestone for the company’s ambitious plans for expansion and innovation.

EsportsXO, founded in 2020 by Vikas Goel, Utsav Umang, and Rohit Raj, stands out as a trailblazer in the rapidly evolving esports sector. The company’s commitment to providing cutting-edge online esports tournament management systems has garnered attention and support from investors and industry leaders.

Vikas Goel, CEO and Co-founder of EsportsXO, shared his vision for the company’s future, and said, “XO aims to become the largest game and player discovery platform for gamers. Game advertising is a $130 Bn market. With BattleXO, we are not just targeting gamers but also addressing the needs of game developers and tournament organisers, enabling them to leverage technology for scalable reach through data-driven campaigns. The infusion of capital will further empower us to tackle the next significant challenge – expanding our company in size and increasing our user base.”

Accelerated Growth and Operational Excellence

EsportsXO has demonstrated robust growth over the past 18 months, investing time and resources in platform development, cost optimisation, and refining unit metrics. This strategic approach has resulted in a positive EBITDA for the last quarter and continued growth in the current quarter, reinforcing the startup’s financial sustainability. The recently secured funding is poised to play a pivotal role in amplifying EsportsXO’s business development initiatives and accelerating overall growth.

Oscar Ramos, Managing General Partner at Orbit Startups and Venture Partner at SOSV, highlighted the booming esports market in India, and said, “The esports market in India is taking off, driven not only by a growing fan base and the professionalisation of competitive gamers but also by the involvement of both local and international brands. These brands recognise the importance of the industry for the consumers of the future. The EsportsXO platform is built from the bottom up, enhancing the experience and maximising value for every party in the ecosystem.”

Investor Confidence and Continued Success

Vikrant Varshney, Co-Founder and Managing Partner of SucSEED Indovation Fund, expressed confidence in EsportsXO’s trajectory, and said, “EsportsXO is a SaaS-based platform to design, launch, and manage online esports tournaments by building a community for console, PC, and mobile gamers across the world on a unified platform. Since the time we funded them in the first round, EsportsXO has kept us impressed with their journey of growth. They have hosted 25,000+ tournaments, have 1000+ tournament organisers on their platform, generated over $4M lifetime revenue with less than $1.5M spend, and have distributed USD 100K+ in sponsored rewards. As the company prioritised growth, it has successfully generated value for stakeholders as well. We take immense pride in the notable expansion of our portfolio company.”

Vikas Goel added, “Just as technology has disrupted the healthcare, food, logistics, and commerce sectors, it is inevitable that gaming will undergo a similar transformation. EsportsXO is poised to lead this disruption from India, shaping the future of gaming.”

Founded by Vikas Goel, Utsav Umang, and Rohit Raj, EsportsXO is the sole company that adds comprehensive value to the entire gaming ecosystem, catering to the needs of gamers, game developers, and brands alike. The platform collaborates with game developers and brands to enhance visibility among the dynamic Gen Z gaming community through community-building and targeted advertising.

About EsportsXO

EsportsXO, headquartered in Bengaluru, Karnataka, has emerged as one of India's fastest-growing esports organisations since its establishment in 2020. EsportsXO has distinguished itself by providing cutting-edge online esports tournament management systems. Beyond its technological prowess, the organisation is home to a curated assembly of creators and athletes who collectively engage an audience surpassing a million, united by the common goal of cultivating the world's most extensive community of PC, mobile, and console gamers. To know more, visit www.battlexo.com.

Conversational AI for Hospitals Voiceoc Raises INR 3 Cr Funding from IAN & BIRAC -Powered BioAngels Along with Sucseed Indovation

• BioAngels is a unique partnership between IAN and BIRAC that supports startups in Biotech, Medtech, Healthtech, Pharma, Agritech and Cleantech sectors
• The SaaS platform will utilize the investment for expanding its team and hiring talent across tech, sales and marketing verticals
• VoiceOc will also develop its product, scale its marketing strategies and strengthen its presence in the Middle-Eastern market

Voiceoc, a conversational AI solution for hospitals, has raised INR 3 Cr funding from BioAngels, powered by IAN, bringing DeepTech to India’s hospital ecosystem. The round also saw participation from SucSEED Indovation.

With this investment, the company will expand its team and is keen to onboard talent in tech, sales and marketing divisions. Voiceoc also intends to utilize the capital to boost product development initiatives, scale its marketing strategies, and strengthen global footprints in the Middle-Eastern market.

Voiceoc helps healthcare companies provide quick and personalized patient support by leveraging the power of Artificial Intelligence (AI). Integrating Text AI on communication apps like WhatsApp, Messenger, etc., and Voice AI on the call center, the company automates the entire patient journey, right from discovery, appointment booking and availing support to easy access to medical documents, and much more in real-time.

The platform’s healthcare-focused AI engine helps hospitals, diagnostics labs and clinics address consumers' pain points by enabling increased appointment bookings and providing quick and personalized support to patients. Voiceoc also plays an integral role in reducing calls at customer care departments and increasing the conversion rate on offers and campaigns. Currently, it is handling 1 million+ patient conversations in a month from 10 countries.

Speaking on the same, Dr. Manish Diwan, Head - Strategy Partnership & Entrepreneurship Development, BIRAC, said, “The BioAngels platform has been created by BIRAC in partnership with the Indian Angel Network to support the healthcare delivery businesses like Voiceoc, the new-age knowledge-based startups in the ecosystem, with private funds. The company is attempting to enhance the efficiency of conventional healthcare experiences for patients and healthcare providers by integrating Artificial Intelligence. We extend our best wishes to team Voiceoc.”

The lead investors, Mr. Jaideep Mehta, Mr. Vikas Kuthiala and Mr. Anupam Saronwal, further added, “Voiceoc is enabling efficient access to quality healthcare through front office transformation of healthcare providers leveraging messaging, Machine Learning and AI technologies. With a great team in place, the company is poised to become an important player in the healthtech space in the future. This investment builds on the IAN and Bio-Angels’ legacy of supporting entrepreneurs who are building great companies using cutting-edge technologies.”

Mr. Kush Aggarwal, Co-Founder, Voiceoc, said, “At Voiceoc, our mission is to provide solutions for the major challenges healthcare providers face, ensuring patients have access to high-quality, quick and personalized support. Simultaneously, we wish to end patients’ dependency on inconvenient channels for booking appointments, accessing reports and availing consultation services. We are currently in a prime growth phase and are keen to not only onboard new talent but also associate with digital marketing agencies and expand our footprints in the UAE market with the opening of our new office. Partnering with IAN and SucSEED Indovation in the current round is one of the best strategic decisions taken by us that will help us achieve our goal of scaling globally.”

The global conversational AI market was valued at $8.24 billion in 2022 and is projected to touch $32.51 billion by 2028, registering a 21.6% CAGR growth. India, in the APAC region, is one of the fastest-growing markets. Companies, especially in the healthcare sector, are gradually adopting chatbots to cater to the surging demand for AI-enabled customer support services. Voiceoc seeks to explore growth opportunities and envisions becoming the go-to destination for chatbot services in the healthcare domain.

About BioAngels

BioAngels is India’s first sector focused Angel Investor group and perhaps the world’s first angel group in partnership with a government body. It is a unique partnership between BIRAC, an enterprise of the Department of Biotechnology, and IAN, India’s single largest horizontal platform for seed / early-stage investing, focused on Biotech, Medtech, Healthtech, Pharma, Agritech, Cleantech startups. BioAngels brings the first external cheque from Industry leaders and domain experts with cheque sizes of up to INR 10 Cr.

Last December, Padmaja Ruparel, Founder of BioAngels, said in an interaction with an industry magazine, that BioAngels has plan to invest in 100 startups, with ticket sizes ranging from Rs 25 Lakh to Rs 10 Crore. 

BioAngels brings Money, Mentoring, and Global Market Access. It provides Angel Investors, Family Offices, Micro VCs, Corporates and Early-Stage VC Funds, an opportunity to invest in high quality fast growth companies for Alpha returns.

About Voiceoc

Voiceoc is a healthcare focused Conversational AI company that was started with an aim to strengthen engagement between healthcare companies and patients thereby helping healthcare companies, including hospitals, diagnostic labs & clinics, to increase appointment bookings, provide quick & personalized support to patients, increase conversion rate on campaigns and reduce calls in the customer care department.

Today, Voiceoc is handling more than 1 million patient conversations on a monthly basis and have been helping leading healthcare companies of India and Middle East achieve above mentioned objectives.

The above mentioned objectives are achieved by leveraging ‘Voiceoc conversational AI system’ that is deployed over multiple messaging platforms, such as WhatsApp, Instagram, Messenger etc., and call center system.

We are now looking to invest significantly in building our team and are looking to hire talent across multiple domains including Client Success and Inside Sales.

Samaaro Raises Seed Funding to Empower B2B Event Marketers

Business Wire India

Bengaluru-based Samaaro, a B2B event-marketing SaaS platform has raised seed funding round, led by SucSEED Indovation Fund with participation from Silver Needle Ventures Fund, The Chennai Angels, Lead Angels, Ankit Mehrotra (Founder, Dineout), Khalid Qazi (VP, Swiggy) and other eminent angel investors.

The round also saw follow-on participation from the existing angels of their last round - Kedar Gavane, Shreya Ghorawat and Chaitanya Kalipatnapu.
 
With the vision to help brands across the globe drive higher ROI from events, Samaaro aims to become an integral part of their marketing stack and maximize business growth for them.
 
Samaaro is an event marketing platform that enables B2B marketers and event professionals to maximize their business growth and ROI when hosting or participating in events.
 
The platform empowers B2B companies who host or participate in events to create an amazing brand experience and generate business opportunities. The comprehensive and unique platform is useful for those who are looking for a technology solution to create a memorable event experience, boost customer engagement, expand the leads funnel, and increase marketing ROI through event marketing.
 
Purnank Prakash, the Founder and CEO of Samaaro said, “Event sponsorships drive 80% of the total revenue of the events industry. More than 5 Million businesses participate as sponsors & exhibitors annually in events around the globe. However, generating qualified leads and accurately measuring their ROI remains one of the primary challenges for these event marketers. This is where Samaaro stands out from the competition and unlike traditional virtual or hybrid solutions out there, we focus on maximizing lead generation and thus optimizing the sales funnel for these businesses.”
 
He further added, “Having launched the operations in June 2020, Samaaro has been leveraged by more than a thousand global brands like ASSOCHAM, Queen’s University and Informa Markets. In the last 2 years, Samaaro has hosted 1 million attendees from 150 countries and grown their revenues 300% YoY. With close to 60% of its revenue from international customers, Samaaro is truly a “building in India for the world” startup.”
 
Mayank Banka, the Founder & President of Samaaro said, “So far, we have been extremely focused on finding our PMF and spent conservatively on marketing. Healthcare and education are the top performing industries for us and we’ve seen strong organic traction, especially from North America.”
 
He further added, “Next, we intend to build a super suite of event marketing solutions focused on events such as summits, exhibitions, trade shows and product launches. The funds raised will help us build a leadership team with experience in the North American market to further establish Samaaro as a leading brand in the event tech space.”
 
Speaking on the investment round, Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “The market size of the global meetings, incentives, conferences, and exhibitions (MICE) industry is currently valued at over a trillion dollars and growing at a CAGR of about 13%. The rising popularity of online streaming to replace in-person presentations, growing acceptance of remote working and the current buzz of events in the metaverse is gaining a lot of attention. Samaaro has a very unique value proposition to deliver and their approach of leveraging tech and the present global opportunity will surely make it one of the top in the industry. Samaaro has built a strong client base of 1000+ Brands on the platform including Salesforce, Huawei, L&T, Google, AWS, Hitachi and Qualcomm etc and we feel excited to back their growth story.”

Shopify for Doctors Remedo Raises Funds from SucSEED Indovation

Remedo, which helps doctors build their digital identity and convert patient engagement into a better reputation online, has secured an undisclosed amount in Fundraise from Hyderabad headquartered SucSEED Indovation Fund and other investors, Whiteboard capital, Titan capital, Suashish family office and angel investors such as Shashvat Nakrani (BharatPe), Krishnan Menon (Lummo) and Varun Sadana (Supertails) as part of its Growth investment round. Remedo is empowering doctors in an online world so they can control their practice & data, and can deliver better care to patients. 

Building "Shopify For Doctors" , Remedo aims to do for doctors, what Shopify has done for businesses – Helping the independent practitioner compete with organized players & aggregator platforms.

Doctors have to compete with hospitals & platforms that spend millions on digital marketing to appear higher in search rankings. But with Remedo, doctors are not just able to provide better care, but convert patient love into a better reputation & brand. Doctors on Remedo appear in over 20 million searches, appear in the top results on Google, and see a 15% increase in patient volumes as a result.

Remedo is the only company that has been part of Google Accelerator & WhatsApp Incubation programs, and also won Google's own competition globally for its AI chatbot for doctors.

Dr. Ruchir Mehta

Dr. Ruchir Mehra, the CEO of Remedo, and a medical doctor from Delhi’s Maulana Azad Medical College who has run hospitals for one of India’s largest hospital chains, and has worked closely with doctors, started Remedo to solve the problems his fraternity faces.

Dr. Ruchir, the Founder and CEO of Remedo said, “100 crore people are online in India, and they do everything online. Health is an aspect of our lives, and we naturally expect our trusted doctor to be online too. But the doctor’s digital identity has been controlled by aggregator platforms. With Remedo’s help, the non-tech-savvy physician in a Tier 2 town can finally take back control in his/her hand. Over 7,000 doctors have already signed up on Remedo in the last 2 Years and are building their digital presence so patients can find them and consult with them.”

He further added that “The funding we raised funding from SucSEED Indovation Fund and other established Investors will help us increase our reach and further develop our product offering.”

Speaking on why they have invested, Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “According to the Inc42 Report, The Indian telemedicine market was valued at $1 billion in 2020 and is expected to become $5.4 billion by 2025 with 31% CAGR.. Professional home care has become the large-scale alternative to hospitalization for both COVID and non-COVID patients, a sector that has grown exponentially over the last year. Remedo clocked GMV of INR 4.5 cr from 90K+clinics on the platform, 75K+ patients with 65K+ medical records added on the app. Remedo wants to become “Shopify for Doctors'' to build their personal brand and we feel connected with their vision.”

About SucSEED Indovation Fund - SucSEED Indovation Fund (SIF) is a SEBI regulated AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus with clear focus on early-stage tech seed initiative. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, Health-tech, Security & RegTech, EnterpriseTech SaAS and Digital Economy & Emerging Tech, including Gaming & MediaTech.

More About Remedo:

Empowering 1 million Indian doctors in an online world, Remedo helps doctors build their digital identity, deliver better care to patients, and convert patient engagement into a better reputation online.

[R-L] — Richeek Arya (CTO) and Harsh Bansal (COO) 

Problem(s) that Remedo is addressing:

There is no solution that helps doctors build their own brand, and deliver care to an increasingly digital friendly population. Post-Covid, patients expect their doctors to be online, but doctors are dependent on 3rd party platforms that control their patient data, and charge per lead.

Solution:

• Remedo solves this problem by helping doctors take back control from aggregators & agencies by creating Digital Clinics for doctors - their online identity on Google, social media, their own personal website, and a unique 4-way AI chatbot that won a global award from Google.
• Remedo’s integrated ‘Operating system’ for their clinic lets doctors manage appointments, records, teleconsultation, billing and also engage patients with chronic conditions.
• By helping them convert patient happiness into online reputation management, Remedo lets doctors do what they do best – focus on patient care.

Security and RegTech Platform Lythouse Raises Funds from SucSEED Indovation

Founding Team of Lythouse

Lythouse, has secured an undisclosed amount in Fund raise from Hyderabad headquartered SucSEED Indovation Fund and established Angel such as Gopinath Latpate as part of its pre-series round.

Lythouse started its operations in January 2020 as a safety tech company. With the motto of “making businesses & people safe in India” Lythouse with its proprietary product Lythouse Riskmatic Platform aims to save more USD 1 Billion for 12,000 businesses by helping them mitigate business risks and impact millions of human lives over next 4-5 years.

Lythouse Founding & OPs Team

Lythouse helps businesses identify and alert any external risk to businesses because of any external event and mitigate the same in real time by using workflow provided by the platform. Lythouse uses AI/ML technology to identify real time external risks which can impact business continuity in terms of Revenue, Infra or human life. Lythouse riskmatic platform also comes with an employee facing app that gives the employees and their families the key alerts about the external location risks and access to our 24X7 command center in case they are caught in any unknown risks on road, home or anywhere. The platform also provides access to a verified list of police stations, ambulances, hospitals and other emergency related information based on their location.

Unlike typical media reports which do not add geo intelligence to any external event and floods us with SPAM news, Lythouse adds Geo Intelligence using its Insights Engine and ensures that only relevant insight with qualifiable risk is communicated to Businesses and their teams.

Lythouse has worked extensively during pandemic and helped save many lives by innovating products such as social distancing score, medical emergency services, 24X7 Command Center facility for employee safety and post pandemic hybrid workplace solutions. They have worked with large enterprise clients in IT, Insurance, Manufacturing & Retail industries.

Dhiraj Nauhbar, the Founder and CEO of Lythouse said, “There is a big gap in filtering the right set of information pertaining to external events that pose risk to your business and employees. Today there are hundreds of protests and more than thousands cases of riots reported across the country everyday which is a big risk to businesses and employees. Lythouse is out there to give the right set of insights to businesses and people at the right time in order to calculate & minimize the loss and mitigate the risk in a timely fashion. This product will impact and change how businesses look at logistics continuity, supply chain, human resources, manufacturing and infra safety. Recent rain caused floods in Bangalore are testimony to losses that businesses face due to external events.”

Dhiraj Nauhbar further added that “we will utilize these funds to go deep in technology by building data analytics algorithms using AI/ML and strengthening our operations by aggregating more emergency partners for on ground risk mitigation as we go 24/7 in operations”.

Pratik Sharma, the Co-founder & CTO of Lythouse said, “Artificial Intelligence and Machine learning today makes it possible to moderate and filter big data for right insights and that’s what Lythouse does to bring real time insights pertaining to external risks with geo intelligence to our customers. Our solutions have powered enterprises to save millions of dollars and priceless lives across India”.

Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “Having worked in Senior Leadership roles in Enterprise Risk, Business Continuity & Resilience function in large global enterprises for over two decades, I am aware of the significant gaps which exists in Business environment and sufficient use-cases for an enabling platform. There are a number of Natural and man-made events that pose a risk to continuity of large enterprises. Lythouse collects granular safety data from several sources, uses AI tools and converts them into meaningful insights for business continuity. Lythouse’s can cater to MSMEs as well as MNCs, which increases their user base and scalability. We have seen their product evolving with early business adoption already and with our vast network of Risk Professionals & Business Leaders, we can help them with early market access too.”

Gopinath Latpate, the lead investor says, “Since inception, Lythouse’s mission towards citizen and business safety has resonated very well with me; they have always delivered on this promise even during the peak of pandemic; this has further increased my belief in their purpose. As technology matured, Lythouse has been able to provide data driven intelligence to the businesses and their employees. Lythouse risk matic platform holds a promise to be widely adopted technology by the company leadership in maintaining the business continuity.”

About the Lythouse –

Lythouse is India’s first AI driven Riskmatic platform that not only highlights risk but also gives risk mitigation workflow with on ground support for emergency situations through its 24X7

Command Center. It started its operations in Year 2020 and has since then helped many enterprises and citizens in business continuity and saving human lives.

About SucSEED Indovation Fund - 

SucSEED Indovation Fund (SIF) is a SEBI regulated AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus with clear focus on early-stage tech seed initiative. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, Health-tech, Security & RegTech, EnterpriseTech SaAS and Digital Economy & Emerging Tech, including Gaming & MediaTech.

A Web based IDE Platform, Cloudworx Raises Funds from SucSEED Indovation Fund

Cloudworx Technologies Pvt Ltd, has secured Seed Capital from Hyderabad headquartered SucSEED Indovation Fund as well as IIIT Hyderabad, Expert Dojo, and other angel investors.

With a combination of “No-code + IoT + 3D”, Cloudworx has created a platform that allows users to create 3D applications for the Enterprise Metaverse as Integrated Development Environment (IDE) Platform.

Cloudworx Studio is a web-based IDE that lets users build applications and workflows for 3D content without writing any code. Their current focus is to build applications for the Enterprise Metaverse in the form of digital twins that are powered by real-time data from sensors, equipment, processes, and interactions.

Unlike other Digital-Twin builders, Cloudworx allows users to import custom 3D models, create animations, interactions, workflows and alerts on them; and link them with real-time IoT sensors data to build digital twins in a no-code fashion.

Incorporated in Dec 2019, Cloudworx launched the first version of their product during the first Pandemic wave and has expanded to clients across US and EU markets over the past two years with marquee clients in energy, utility, manufacturing, and e-governance.

Yuvraj Tomar, the Founder and CEO of Cloudworx said, “Going through tons of graphs, charts, and dashboards is very cumbersome and painful for business owners. That's why they are adopting the Enterprise Metaverse in the form of digital twins. However, it's not a simple task to create a working, scalable, and living virtual replica of your factories in 3D. It's really complicated, and requires a specialized 3D development team to do the job; thus out of the reach of many businesses. This is where we step in to bridge the gap by bringing the capabilities of NoCode into a 3D workspace that allows businesses to build 3D apps without writing any code or having to depend on a 3D team.”

He further added that “Seed funding raised from SucSEED Indovation Fund as well as such established Angel Investors, will help us strengthen our existing partner channels and add more muscle to our product of ering. We intend to launch the product in a Freemium SaaS of ering by 4Q and open up a new market category - "citizen developers for the metaverse", in a domain that has only comprised game-engine and Web3 developers till date.”

Speaking on their investment reasons, Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “Based on a report by Fortune Business Insights, metaverse market size was valued at USD 63.83Bn in 2021. The report forecasts that the market is projected to grow from USD 100.27Bn in 2022 to USD 1,527.55Bn by 2029, exhibiting a CAGR of 47.6% during the period. Low-code/no-code (LCNC) platforms are gaining momentum to cut down software development cycles. Cloudworx dif erentiates itself from others by focusing on building 3D no code editors to build metaverse maps for real time monitoring of locations. Whereas, most of the startups in this space are building no code platform to build only apps. We wanted to help Cloudworx to scale with many businesses & segments for rapid adoption”

About SucSEED Indovation Fund - SucSEED Indovation Fund (SIF) is a SEBI regulated AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus with clear focus on early-stage tech seed initiative. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, Health-tech, Security & RegTech, EnterpriseTech SaAS and Digital Economy & Emerging Tech, including Gaming & MediaTech.

About Cloudworx

Founded by Forbes 30 Under 30 alums and former Qualcomm execs (CXOs), Cloudworx is the creator of Cloudworx Studio, a no-code platform for building Enterprise Metaverse applications.

Problem(s) that Cloudworx is addressing:

Going through tons of graphs, charts, and dashboards is very cumbersome and painful for business owners. That's why they are adopting the Enterprise Metaverse in the form of Digital twins. From a survey conducted by Gartner, 75% of businesses want to implement digital twins, but only 13% have implemented it so far; the other 62% have it on their roadmap but find it hard. It's really complicated,
requires a specialized 3D development team and specialized engineers to do the job; This is where Cloudworx steps in to bridge the gap by bringing the capabilities of NoCode into a 3D workspace that
allows businesses to build 3D apps without writing any code or having to depend on a 3D team.

Solution:

The product, Cloudworx Studio, is a web-based IDE (Integrated Development Environment) that lets
users build applications and workflows for 3D content without writing any code. Its current focus is to
build applications for the Enterprise Metaverse in the form of digital twins that are powered by real-time data from sensors, equipment, processes, and interactions. Users can import their 3D models, create animations, interactions, workflows and alerts on them; and link them with real-time IoT sensors data to build digital twins in a no-code fashion.

Team of Cloudworx

HR-Tech Startup Hirex.ai Raises Seed Fund from SucSEED Indovation Fund and CiE IIIT-Hyderabad

Hirex.ai Co-founders

SucSEED backs an AI powered online assessment and interview platform, Hirex.ai

hirex.ai, has secured Early Capital from SucSEED Indovation Fund and CiE IIIT-Hyderabad as part of its Seed round.

With the motto of “Accelerating talent assessments with Voice AI and automation”, hirex.ai aims to build a talent assessment platform for Millennials and Gen Z job seekers who are increasingly using Voice AI solutions for every day communication needs. Hirex.ai provides a no code Voice AI platform to conduct and score level one interviews at scale autonomously.

Unlike current assessment platforms, hirex.ai allows —

1. Talent Acquisition Groups (TAG) to conduct and score technical interviews without any human intervention.
2. TAG teams can conduct level one interviews to every candidate that applies for a job within 24 hrs.
3. Job seekers can take these interviews at a time convenient to them without any interview scheduling.

Ugendreshwar Kudupudi, the Co-Founder and CEO of hirex.ai said, “Traditional resume screening using keyword searching ignores a large talent pool as qualified job seekers don't update their resume with all the necessary keywords and buzzwords. By using Voice based BOT’s these job seekers can be autonomously interviewed and scored on the skill sets the company is looking for and move them to next rounds such as coding or personal interview automatically by the bot. Job seekers can use their natural voice while answering to the bot allowing them to have realistic conversation while giving the interview.”

He further added that “The seed funding we raised from SucSEED Indovation Fund and CiE IIIT-Hyderabad will help us expand our sales ef orts to reach more customers and improve the Voice AI capabilities of the platform to suite talent assessment requirements across multiple verticals in India”.

Speaking on why they have invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “As per a report by Fortune Business Insights, the market size of HR Tech was USD 22.89 billion in 2020. It is projected to grow from $ 24.04 Bn in 2021 to $ 35.68 Bn in 2028 at a CAGR of 5.8% in the forecast period. Online recruitment has become a new norm as it automates Level 1 interviews for hiring and technology can dif erentiate in the new-age hybrid work culture. Hirex.ai is an AI powered online assessment and interview platform which helps recruiters conduct Level 1 (preliminary) screening of candidates without any human intervention.”

SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS and Digital Economy & Emerging Tech.

About hirex.ai – 

hirex.ai is a no-code Voice AI platform to build voice-based bots that conduct and score level one technical interviews at scale. You could practically conduct 1000+ interviews in a single day without any human intervention.

hirex.ai believes solution and not features solve customer problems and hence have a comprehensive set of AI enabled tools such as,

• MCQ and Coding Interviews using AI proctoring and proxy candidate detection ● WhatsApp Chatbots for candidate engagement
• Resume parsing, indexing and search
• Interview reminder via bot-based phone calls
• Integrated to email providers like Outlook and Gmail
• Chrome plugin support for Job-boards and LinkedIn resume parsing
• RESTful API for HCM and HMS integration
• Agile ATS with automation support
• Staffing Vendor Management and many more
• Giving you a complete AI-enabled recruitment suite under a single dashboard.

Problem(s) that hirex.ai is addressing:

1. 70% of the job-seekers who apply for a job don't get interviewed and are ignored without proper screening.
2. Keyword based search dont give desired results if the resumes are not updated properly 3. Talent Acquisition Groups (TAG) don't have enough resources to conduct level one interviews at scale and hence use keywords based search as a selection criteria, which is ineffective.

Solution:

• Using Voice AI, TAG teams can now build Voice based bots and deploy them at scale based on requirements. Every job seeker in the funnel can give an interview with the Voice BOT within 24 hours of applying for a job without scheduling.
• TAG teams also get individual interview scores automatically done by the BOT and move them to appropriate rounds for follow-on interviews using our inbuilt ATS automatically.
• hirex.ai also provides coding, MCQ, assignments and remote interviews support in a single platform allowing TAG teams to have the 360 degree assessment and feedback of each candidate in one place.
• Job seekers are continuously updated using WhatsApp or email about their application status whenever they apply for a job and attend interviews on the platform without human intervention.

Founder’s Details –

Ugendreshwar Kudupudi (Co-founder & CEO) is a serial entrepreneur with over 20+ years of experience in pan-asia sales, technical marketing and product development. Worked in various startups and MNCs with over USD 100 million in sales revenue, generated from various semiconductor and critical networking solutions for OEM customers across Asia.

Sayyad Nayyaroddeen (Co-founder & CTO) is a IIIT-Hyderabad alum and worked in various startups in the FinTech and WorkTech domains. Has also filed for a patent in 2020 titled “A SYSTEM AND METHOD OF VOICE BASED INTERVIEW EVALUATION".

EnterpriseTech SaaS Platform 6degree Raises Growth Capital From SucSeed Indovation Fund and 1Crowd

6Degree, has secured an undisclosed amount in Fund raise led by Hyderabad headquartered SucSEED Indovation Fund and 1Crowd. The round also saw participation from Riso Capital, Keiretsu Forum and Angelbay.

Setup in 2015 by Nikhil Hegde and Amit Bhardwaj, 6Degree is one of the leading e-commerce enablement platforms focused on the fashion and lifestyle retail sector. 6Degree’s flagship product “Honeycomb” was launched in 2020 and offers an end to end suite of solutions for managing the online business of brands ranging from order & inventory management for D2C websites, third party marketplaces, payment & fulfillment solutions, and brand growth solutions.

A key differentiator from 6Degree is a blend of technology and growth solutions, backed with intelligent analytics, which empowers brands to make informed decisions on inventory planning and sales cycle management. 6Degree also offers detailed consumer analytics providing them a 360 degree view on their customers shopping trends and effective retargeting.

6Degree serves over 50 medium to large brands in the lifestyle space across India with names such as Inc5 Shoes, Centro, Madame, Ethnicity, and a lot more.

Nikhil Hegde, the Co-Founder and CEO of 6Degree said, ”We have been working with brands in the fashion & lifestyle space for over 7 years and have developed a detailed understanding on key elements that contribute to overall brand growth. With our full suite of Honeycomb solutions, brands can leverage our technology & scale-up abilities and deliver better buying experiences to their customers. We have continued to invest in our analytics and platform features, providing a plug & play solution for brands to manage their online business.

 

Nikhil Hegde, CEO - 6Degree

He further added that “The investment we raised from SucSEED Indovation Fund, 1Crowd and such established investors will help us in providing better omnichannel experiences for our brands. We are investing in our partner network and providing cross-border solutions to take our brand portfolio into a global audience.

The business has scaled quickly over the past year with over 3X growth in sales. We are also improving our positive unit economics. Seeing the strong demand for such solutions from this sector, we remain bullish on continued product adoption and will enable us to reach to profitability over the next 12 months”

Speaking on why they have invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “According to the Inc42 report, The Indian D2C market is expected to reach $100 Bn by 2025 at a CAGR of 25%, up from $33 Bn in 2020. 6Degree enables fashion and lifestyle brands via its proprietary platform to sell at multi-brand and online stores across geographies and scale their business, using actionable platform insights. It has built a strong network of fashion brands with more than 50+ brands and 100,000+ products sold.”

Vikrant further added, “Since the time we funded in their first round, 6Degree has been encouraging growth and has scaled their business rapidly with 200% growth in brands on the platform and 92%+ growth in GMV with INR 1000+ cr GMV in the pipeline over the next 2-3 years.”

Girichandra Kuchangi, Partner at 1Crowd commented: "Online brand presence, especially through own digital properties, is critical for lifestyle brands to be able to attract and own customers. Honeycomb, with its growing bouquet of features from tech tools to deep insights, and supported by a data-driven results-oriented team from 6Degree, is a great solution for lifestyle and fashion brands to establish their distinct online presence for the global audience. Nikhil & Amit have brought together a passionate team with deep expertise to build a one-stop shop to enable brands to quickly scale their omnichannel growth objectives."

SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS and Digital Economy & Emerging Tech.

About 1Crowd -

1Crowd (1Crowd.co) is an early stage sector agnostic investment firm that operates a SEBI AIF Cat-1 VC (Angel fund) and an angel network. 1Crowd provides comprehensive support to startups through its ecosystem of partners, mentors and investor-members, who bring rich experience in diverse sectors. 1Crowd manages an AUM of over 170 crores across 35+ startups, with a diverse mix of enterprise tech / SaaS, fintech, cleantech, deeptech companies as well as consumer internet and D2C food brands.

Early-stage Startup Udbhata Technologies, that Focuses on Risk Technologies Raises INR 2.75 Cr from SucSEED Innovation Fund and Jani Ventures

SucSEED Indovation Fund, India, an angel fund focused on bringing tech innovation to the market and Jani Ventures Inc, Canada, focused on early investment in promising tech-driven ventures have invested INR 2.75 Cr (~$380k) in Udbhata Technologies Pvt Ltd to commercialize and scale Qoris® ERM, Udbhata’s first offering.

Qoris® ERM (www.qoris.io) is Udbhata’s proprietary risk management software solution focused on the non-financial sector globally, with highly innovative and first-in-class features such as the Peer Analyzer

With quick onboarding, Qoris® Clients respond to risks faster and better, and significantly enhance their internal and external stakeholder confidence. Udbhata’s practitioner first approach helps them understand what it takes to help Clients succeed with Qoris® . After completing the onboarding of its first Client - a listed Pharma Company in May, Udbhata hopes to lock-in its second and third clients very soon.

Udbhata cofounders Anand Sampath (CEO) and Vijaya Kiran Kuralla (Technical Director) have a combined experience of 45+ years in the risk, finance, and technology domains. As former CRO & CCO in large Enterprise, and a risk practitioner; Anand understands what solutions can meaningfully address an Organization’s pain and provide value. And Vijay, with his experience in implementing enterprise deployments, will help scale Qoris® globally.

Speaking on why they have invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “In this era of changing regulations, it is imperative that enterprises are fully compliant in order to mitigate the risks. As per Grand View Research’s recent report suggests that GRC is a $40Bn market as of 2021 and is poised to grow at 14+% CAGR till 2030 and Udbhata is positioned uniquely to disrupt this GRC segment through its plug and play solutions for non-financial companies. Udbhata’s founders with their decades of experience in risk and regulatory compliance management, are well positioned to take advantage of this business potential across global markets and Asia Pacific region manifests the highest CAGR growth of 20.5% in next 5 years..”

Parth Jani founder of Jani Ventures INC, said “Our unconventional methodology in our investment decisions are based primarily on the technology offering a solution to a clear and present issue. Udbhata, with its unique (scalable, evolutionary & pivotable) GRC solution offering does, for a very under serviced segment of industry. We couple the business/commercial requirements with the arcane approach of analyzing the driving human component, their ability to visualize, strategize, execute, and deliver on metrics. Anand and Udbhata fit into our parameters not just as a silo investee but also as a symbiotic value add to our existing portfolio in India and the North American continent”.

Speaking about the investment, Anand Sampath, CEO, Udbhata Technologies mentions that both investors are a perfect fit for the Company. General Partners of SucSEED come from Risk, Legal and Compliance background, so they appreciate what we are building and how rapidly it can be adapted. Jani Ventures can quickly take Udbhata to international markets such as North America. SucSEED and Jani Ventures not only appreciate our space, but also can help us scale Udbhata to its potential.

As the Company’s TAM unfolds from $3 + Bn, Qoris® and its non-traditional product road-map begins unlocking for its Clients the benefit of automation, optimization (of Cost of Risk) and finally a truly integrated risk management solution - one that combines Governance, Intelligence and decision making in one seamless architecture.

About SucSEED Indovation Fund

SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, HealthTech, Security & RegTech, EnterpriseTech SaAS and Digital Economy & Emerging Tech.

About Jani Ventures Inc

Jani Ventures Inc is the tech investment arm of JC Team Capital. Jani Ventures was founded in 2021 with a vision to empower early-stage start-ups and entrepreneurs with strategic capital investment and a highly collaborative engagement model. Its strategies are designed to assist visionary entrepreneurs in building and scaling industry-leading businesses in high-growth international markets. Industry agnostic, Jani Ventures has positioned itself to invest early and create partnerships aimed at inclusive growth.

About Qoris®

Qoris® ERM is Udbhata’s proprietary risk management software solution for the non-financial sector globally, with highly innovative and first-in-class features such as the Peer Analyzer with an affordable Total Cost of Ownership.

About Udbhata Technologies Private Ltd

Udbhata Technologies (established May 2018) is an early-stage startup based out of Hyderabad, India working in a niche confluence of risk management practice, technology and unstructured risk information. Focused on the non-financial sector where the opportunity to innovate is high, with its initial offering Qoris® ERM, Udbhata Technologies is pursuing a $3Bn opportunity.

Problem(s) that Udbhata is addressing:

Companies Lose $$Mn every year from risks while experiencing two key challenges.

• Respond to risks with confidence and speed.
• Understand and control the real costs of risk.

Solution:

Qoris® ERM helps our Clients automate their ERM process, helps them take quicker, better decisions that reduces their Total Cost of Risk.

Founder’s Details –

Anand Sampath | Founder and CEO
20+ yrs. experience - Former CRO & CCO in large Enterprises, and a risk practitioner; CA & CWA (India); CIMA (UK), FRM (US)

Vijaya Kiran Kuralla | Cofounder & Technical Director
20+ yrs. Experience | Implementing Enterprise deployments Delivery Management, Agile Scrum Master, PLM BSc, MCA

Udbhata cofounders Anand Sampath (CEO) and Vijaya Kiran Kuralla (Technical Director) have a combined experience of 45+ years in the risk, finance, and technology domains. As former CRO & CCO in large Enterprise, and a risk practitioner; Anand understands what solutions can meaningfully address an Organization’s pain and provide value. And Vijay, with his experience in implementing enterprise deployments, will help scale Qoris® globally. Including the cofounders, Udbhata’s team size currently is ~15

About the market Potential in this at space:

With Qoris® ERM Udbhata pursues a market of $3Bn. The Global GRC market is expected to grow to $100+ Bn by 2028*.

Vision for Qoris® :

Be the first choice among risk technology solutions (for non-financial companies) globally.

Ex-Cisco Execs Founded Video Conference Platform Ving Raises Funds from SucSEED Indovation

Co-founders - Aditya & Amitabh

SucSEED backs Ving Hybrid, a Digital Economy & Emerging Tech platform

Ving Hybrid Technologies India Pvt Ltd, has raised Funds from Hyderabad headquartered SucSEED Indovation Fund.

Ving Hybrid had set out to solve an industry problem which had always existed for the users of Video Conferencing Room users. Adoption of Video technology has grown multi fold during the pandemic there by expanding the market and use cases in an exponential manner. Segments who were non users / slow adopters like Education and Govt have also got added to the market thereby increasing the prospects of success.

With the Vision of “Simplifying Collaboration”, Ving Hybrid aims to democratize the Video Conference Rooms by offering a “One Stop VC Room Solution”. Ving provides a seamless and a magical user experience across any VC room using any VC camera hardware and for meetings on any platform viz. GoogleMeet, Zoom, Webex and MS Teams.

Unlike other Video conferencing companies, Ving Hybrid allows users to enhance experience with its proprietary scan QR code to join workflow, making it extremely simple for users to join any meeting from any room using any VC camera. Major competitors in this segment allow controlling of devices through desktops/ laptops and need an HDMI cable for screen sharing etc. But Ving Hybrid solution allows users to control the room device and the meeting from their laptops or even from mobile phones also with an in-built wireless screen sharing system without any hardware cables.

Founded by two ex-Cisco Executives, Ving Hybrid Technologies has its presence in Singapore and India.

Aditya Pisupati, CoFounder & CEO of Ving Hybrid Technologies said,“ Our aim is to provide the best in class Hybrid collaboration experience by converging multiple conferencing and VC hardware workflows into one application. We enable users to join into any meeting, in any Ving enabled VC room through our proprietary ‘Scan to Join’ feature while making it really simple for IT teams to centrally manage their infrastructure.”

Amitabh Patney, Cofounder & CBO of Ving Hybrid Technologies said,"Built out of India, we plan to take the solution global, across Enterprises, SMBs and Coworking Spaces where the demand for easy to use VC rooms is growing exponentially”.

They further added that “The pre-seed investment from SucSEED Indovation Fund will help us fast-track the build of a scalable, secure next generation collaboration platform for the emerging Hybrid work scenarios.”

Speaking on why they have invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “According to Mordor Intelligence Report, The global video conferencing market was valued at $9.2 Bn in 2021 and expected to become $22.5 Bn by 2026 with 20% CAGR. There are a total 9 Mn VC rooms in 2020 and with the boom in the hybrid work model, it will lead to 30 Mn video conferencing rooms by 2026 at a CAGR of 38%. With COVID-19, the entire workforce has experienced a transition toward remote working, paving a way for video conferencing solutions and hardware products.

Ving is set out to disrupt the market opportunity of hybrid work environments through its deep tech business expertise and is targeting to onboard 200,000 rooms on the platform in the next 5 years.”

Market Potential

Covid has paved the way for organizations to adopt Hybrid work- allowing employees to either work from home, their offices and co-working spaces close to them. This has increased the need for VC rooms that can seamlessly connect into meetings scheduled across platforms. Ving solution enables this seamless interoperability and manageability of collaboration across a mix of devices and meeting platforms.

As per Frost & Sullivan, The VC Devices market is slated to grow 6 times by 2025 to sales of 12.5Mn devices/ year. (Frost & Sullivan)

https://www.frost.com/news/press-releases/video-conferencing-devices-to-grow-six-times-by-2025-finds frost-sullivan/

About SucSEED Indovation Fund - SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS and Digital Economy & Emerging Tech.

LegalTech Startup The Legal Capsule Raises Funds from SucSEED Indovation

Contract Management firm- Attort Legal Consultancy Pvt Ltd (known as The Legal Capsule or TLC), has raised an undisclosed amount from Hyderabad based SucSEED Indovation Fund and many known Angel Investors including S Ramadorai (Former CEO of TCS), Kiran Deshpande (Former CEO of Tech Mahindra), Ravi Nigam (Founder and Former MD of Tasty Bite), Shashank Deshpande (Managing Partner at Pentathlon Ventures) , Vineet Patni (Managing Partner at Wepartner Consult), Shantanu Deshpande (Founder of Bombay Shaving Company) and few others.

The Legal Capsule provides an AI powered Contract Lifecycle Management platform, enabling SMEs and Large enterprises to automate their processes in order to handle end to end contract management while reducing time, cost and risks with legal contracts. Proprietary software helps to manage all compliance, renewals and tasks pertaining to contracts with notifications, thereby mitigating risk for an Enterprise.

The Legal Capsule, unlike other Legal Contract Management (CLM) Products, allows drafting the contracts in MS word within the application, seeking internal approvals, negotiating clauses with counterparties, e-signing using legally binding signatures, e-stamping modules for States across India and storing all contracts in one single repository. It uses AI & ML to analyze the reported findings and offer blockchain-powered authenticated signature solutions that not only captures signatures, but live photographs of the signer, GPS details, IP address and date & time of signing contract.

Co-Founders - TLC

 
Gautami Raiker, Co- Founder and CEO of The Legal Capsule said, “We believe ef ective Contract Management is a must for every Enterprise to fully secure their interests and we endeavor to help them in the digital transformation of this very important space TLC has been helping mid and large sector enterprises to manage and automate contracts right from drafting to execution and renewals.”

She further added that “This seed funding will help us to strengthen our ef orts on client acquisition, accelerating team hirings and global expansion strategy. Most importantly we are delighted to have got access to a set of well known mentors in Industry, who have invested in our company”.

Speaking on why they have invested, VVSN Raju Co-Founder & Partner at SucSEED Indovation Fund, said, “Increasing demand for agile contract management software and changing regulatory compliances with rising complexity due to diversity in sales and licensing models, a sector that will grow exponentially over the next few years. Legal Capsule has grown their revenue by 4x over the past one year. It has a massive and expanding TAM equal to $25Bn which includes an E-signature market of $20Bn and Contract Lifecycle Market of $5Bn.”

About the market Potential in this space:

According to FMI Global and Consulting Pvt. Ltd, “The global contract lifecycle management market revenue totaled US$ 936 Mn in 2021. The overall contract lifecycle management market is expected to reach US$ 2.4 Bn by 2029, growing at a CAGR of 12.2% for 2022 – 2029. Indian Enterprises will see an exponential growth in CLM adoption for better contract visibility and management.”

SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors - EdTech, FinTech, Health-tech, Security & RegTech, EnterpriseTech SaAS and Digital Economy & Emerging Tech.

Hyperlocal Job Search Bot Jobsgaar Raises Capital from SucSEED Indovation Fund

Jobsgaar CEO - Atul Pratap Singh

Growing Jobsgaar gets SucSEED backing again

Jobsgaar Technologies Pvt Ltd, has secured an undisclosed amount in fundraise, led by SucSEED Indovation Fund, Blume Founder Fund, BlackSoil, Karekeba Ventures & other industry stalwarts have joined along in their Pre-Series A round.

Jobsgaar had earlier raised funds from SucSEED Indovation Fund in May last year.

With the motto of “Connecting workforce to 100Million #WalkToWork jobs in Bharat”, Jobsgaar aims to be India's first #CareerTech venture managing the career journey of the workforce in Bharat through world's best tech innovations. Jobsgaar is a career tech solution that manages a job seeker’s career journey while enabling them to access upskilling, lifestyle solutions, financial & banking inclusions through innovative tech solutions.

Unlike other JobTech or HRTech companies, Jobsgaar allows the workforce to find walk-to-work jobs at their native places or nearest town possible while creating an impact on inter-state migration. On the other hand, Jobsgaar is enabling local employers & companies looking to hire in tier 2 or 3 towns to find relevant talent in the shortest time possible. In the past 6 months, Jobsgaar has boarded around 150K job seekers from 15 towns of Uttar Pradesh. With over 600 employers posting around 7500 job opportunities from tier 2 or 3 towns of the state. Also, WhatsApp chatbot, which is the primary product of Jobsgaar, has bridged over 2500 candidates to the WalkToWork jobs.

Atul Pratap Singh, Co- Founder and CEO of Jobsgaar said, “The early signs from the market are exciting & ensuring that there is no dearth of job opportunities in tier 2 or 3 towns of Bharat. We as a technology company are committed to build omnichannel solutions that will bridge the void between workforce & local employers. While managing the career journey of the workforce, we aim to help them make wiser decisions. As we are a high populous country, we know that there are ample resources available to work. However, the challenge for employers lies in finding the ‘serious’ one in the shortest possible time. That is what we are building for."

He further added that “Funding raised from SucSEED Indovation Fund and such established Angel Investors will help us in escalating our solution development phase & distribution plan. We have recently rolled out our ver1.0 of the Android App for selected markets”.

Speaking on why they have invested Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said “As per the recent BCG report, 2.4 crore new jobs could be created in the gig blue-color space, and by 2028 this could reach around 9 crore jobs. The biggest job generators in the gig blue-collar space right now are e-commerce and logistics.

Jobsgaar connects employers with employees at the source location, enabling the workforce to find district level jobs. There is a huge TAM, SAM, SOM in this space and we wanted to back Jobsgaar again, in their formative years; as they develop world’s first district-level hyperlocal job or workforce discovery chatbot integrated into WhatsApp.”

Vikrant further added, “Since the time we funded in their first round, Jobsgaar has had a fabulous journey. They have attracted key clients like Cars 24, BLU Smart, Thyrocare, Hero, Planet PCI andsigned an agreement to assist 68K+ petrol pump owners in hiring blue-collar workforce. It is currently available in 15-20 districts of UP and now expanding to cover other 53 districts of UP & also move to Bihar. Jobsgaar is witnessing 800% growth in job seekers on the platform from 10,000 to 90,000+ job seekers with 700% growth in job listings."

Jobsgaar was started in May 2020 by Atul Pratap Singh, with a vision to create an impact on migration trends within the country & help employers seamlessly connect with workforce at their native place.

Market Potential:

The employers in these markets have to publish classifieds in vernaculars that will cost them around 15-20$ or they can hire an HR consultancy (only in tier 2 towns and not in 3 or 4) that will charge them 4-8% of total CTC of the post that stands pretty high. Also, the classified or the consultants will just get you the applications and the employers have to dive deep in filtering & shortlisting the candidate. On the other hand, Jobsgaar automates this entire process & employers will only have to speak to the shortlisted candidates & finalize.

Anti-Money Laundering (AML) Startup IntelleWings Raises Pre-Series A Round from Dallas Venture Capital to Fight Corruption, Terror Funding

IntelleWings Private Limited, an AI-powered and SaaS enabled AML/CFT (Combating the Financing of Terrorism) Compliance company, today announced that it has raised $650K in pre-Series A round from Dallas Venture Capital (DVC), a cross-border venture capital firm focused on early and growth 
stage companies in cloud infrastructure, B2B SaaS, AI/ML, mobile, XR and other emerging technologies.

This round saw existing investors like SucSEED Indovation Fund, Padup Ventures and Vinners, reinforce their support with additional capital along with the participation of new investors like Lead Angels and Nextgen Technology Fund I (a fund created by STPI and managed by Pontaq).
Last year in June, IntelleWings had raised seed funding of $100,000 for their IntelleWings' EYE, a product based on machine learning to help regulatory firms with Anti-money Laundering Compliance needs.

With the vision of reducing corruption and terror funding, IntelleWings has developed its proprietary AML/CFT global database for customer screening, a key differentiator, along with CFT Sanctions and Adverse Media checks. Another significant differentiator, IntelleWings Eye, provides a simplified view for complex transactions and speeds up detection of money laundering patterns. IntelleWings is emerging as a significant player in the RegTech (Regulatory Tech) market and counts among its customers one of the largest private sector banks in India along with 10 other DNFBPs (Designated Non-Financial Business and Professions) clients in the Middle East.

"Corruption and terrorism can be combated by leveraging technology with focus and depth. IntelleWings is harnessing the power of AI to provide game-changing AML/CFT solutions,” said Pramod Sharma, Founder and CEO of IntelleWings. “The product is built on deep domain and technology expertise and the capital raised in this round will help us in business development, hiring senior leadership and expansion into new markets including the US,” added Mr. Sharma.

"Banking and financial institutions globally have come under increased government scrutiny to prevent money laundering by deploying AML solutions,” said Shyam Penumaka, Partner at Dallas Venture Capital. “Over $342 billion in fines have been imposed globally for non-compliance between 2009 to 2017 as per Reuters. There is enormous market potential for IntelleWings, and DVC is excited to partner with IntelleWings in their growth journey with our DVC Advantage program,” added Mr. Penumaka.

“Global anti-money laundering software market revenue is expected to register a CAGR of 15% over the forecast period, and AML software revenues are projected to increase from $1.6 billion in 2021 to $5.7 billion in 2030,” said Vikrant Varshney, Co-Founder and Managing Partner of  SucSEED Indovation Fund. “SucSEED Indovation has a dedicated Security and RegTech focus to discover and support early stage disruptive indovations to bring them to the market and we are glad that IntelleWings have got a great response” added Mr. Varshney.

"We were able to identify the potential of IntelleWings on leveraging technology in solving a real-life problem,” said Pankaj Thakar, Founder and Chief Mentor of PadUp Ventures. “The team’s progress and success has been a huge encouragement for us, and we remain committed to supporting them in their journey. We believe that they will be able to achieve great heights in no time and this round will just add fuel to their cause,” added Mr. Thakar.

Namrata Kaul, former MD of Deutsche Bank, Corporate Banking, led this round from Vinners. “Being from the industry, I know for sure the importance of Pramod’s work. This is the need of the hour and there is a great potential in the idea and the team. We have been with him for the last two years and this would be our second round of investment. We have seen the team progress and it only makes sense for us to participate in this round also,” said Ms. Kaul.

About IntelleWings

IntelleWings is revolutionizing RegTech with customer centricity and cutting-edge technologies like Machine learning (ML) and Algorithmic filtering. IntelleWings research division has consistently focused on identifying and solving the real pain points for customers for several years by talking to financial institutions. The belief in research in both technology and business, has been a continuous and enriching journey for IntelleWings, which has brought many wow factors for the customers.
IntelleWings’ innovative and comprehensive approach to AML/CFT compliance was recognized by the International Compliance Association (ICA), and Pramod, its founder and CEO, was nominated for Innovator of the year 2021 for disrupting the Compliance space. IntelleWings is a nimble and highly customer focused team of 35 passionate people (and growing) that delivers comprehensive AML/CFT solutions with their mind, heart and craft!

For more information, visit www.intellewings.com or write to pramod_sharma@intellewings.com.

Dallas Venture Capital (DVC) is a Dallas TX, USA and Hyderabad, India based Venture capital firm investing in cloud infrastructure, B2B SaaS, AI/ML, mobile, XR and other emerging technologies. In addition to providing capital and financing needs, our investment philosophy centers around guiding business development, product, and technology strategy for our portfolio companies through the ‘DVC Advantage’ program to achieve successful outcomes. Operating from both the USA and India, DVC creates a bridge that connects two of the largest start-up ecosystems in the world. DVC is co-founded by Dayakar Puskoor, a pioneering venture capitalist with a record of investments in 25+ companies and 8 exits to date, and Abidali Neemuchwala, ex CEO of Wipro Ltd. For more information, visit www.dallasvc.com or write to shivam@dallasvc.com

SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups.

SIF has a dedicated focus on Security and RegTech focus to discover and support early stage disruptive indovations and bring them to the market. IntelleWings. Spintly, Strobes, Pixuate and SignalX.ai are some of them, with few in active conversations too.

For more information, please www.sucseed-indovation.com or write to marketing@sucseedindovation.com

PadUp Ventures is a Knowledge and Mentoring platform that helps Incubators and Accelerators with structured, process-driven programs to build disruptive and innovative tech start-ups . PadUp’s vision is to be a key player in the start-up eco-system by actively supporting young entrepreneurs at various stages in their entrepreneurial journey and create significant positive impact on their survival rates, thus creating a huge impact in the entrepreneurial space.

PadUp has mentored start-ups in different industry domains and using different technologies like AI, Blockchain, ML etc. It has partnered with incubators across Government and Educational Institutions as well as Corporates. PadUp has also created a group of affiliated investors who regularly invest in PadUp mentee companies. They call themselves Friends of PadUp.

For more information, please visit https://www.padup.in/

Vinners (Value Investors Network) is a group of CXOs of India seeking investment and mentorship opportunities in dynamic, early-stage companies. Beyond financial support, the members often provide mentorship and help open doors for investee companies by leveraging their personal networks. As a network of individuals, they leverage their collective knowledge, connections and know-how to help these early-stage companies succeed.

For more information, please visit https://vinners.org/

Nobel Prize Winning Algorithm-powered Investing App Stack Raises Funds from SucSeed Indovation and Kunal Shah

Stack, has secured an undisclosed amount in from Hyderabad headquartered SucSEED Indovation Fund and other marquee angel investors such as Kunal Shah, CEO of CRED, as part of top up funding round.

Stack graduated from Y-combinator in 2021 and has secured $4.5M in investments from global VCs including Goodwater Capital, Uncommon Capital, Harvard Management and Earlsfield Capital alongwith many other known global Angels including Paul Desmarais III (Portage Ventures), Michael Katchen (WealthSimple) and Immad (Mercury Bank)

With the motto of “providing the best investing experience to everyday investors”, Stack aims to allow millennials and genz to invest for their life goals and to help them achieve financial independence, while educating them about smart investing.

Stacks boasts of 100,000+ users since its launch 6 months ago. With 55% first time investors coming from tier 2-3 cities under the age of 30, Stack is already creating a positive impact in the Indian financial landscape. Users on Stack have created goals worth $100M already, and it’s witnessing 100% MoM growth!

 

Unlike other platforms and apps filled with thousands of confusing investment options, Stack cuts out the noise and focuses on building sustainable long-term savings for its users. Stack lets beginners and busy professionals invest on their terms without having to worry about monitoring the market.

In just 5 mins, Stack builds a custom low cost diversified portfolio for users, made by experts, keeping their risk appetite and goals in mind, to make a fully balanced globally diversified portfolio, which is rebalanced regularly to maintain an optimal level of risk.

 
Tushar Vyas, the co-founder and CBO of Stack said -

We would further build on users’ goal preferences to create special and personalized offerings for our users

Moreover, Stack has also launched India's first stock and crypto backed rewards program for its users every time they make good financial decisions and to give them a boost in their investing journey. Stack is targeting to bring financial independence to 1M Indians by the end of this year. Users on Stack have created more than 3 lakh goals and interestingly the most common being for vacation/trip.

Smriti Tomar, the co-founder and CEO of Stack said -

Thousands of people already use Stack to grow their money and build a better future. We are on a mission to help everyone achieve financial freedom, no matter who they are or how much they have. And we have just started this revolution, there are many more exciting of erings coming up on the app which the entire team is excited about!

Speaking on why they have invested, Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said -

We backed Stack even before it was selected for Y-Combinator (YC) in 2021 and have seen amazing growth since then. We believe Stack is bringing an unique and disruptive proposition in the fintech space and it’s great to see many known Indian and Global investors backing Stack and its team.

He further added that “Stack Finance helps simplify investing for Young India. India is home to almost one-fifth of the world population and has a literacy rate of nearly 80%; yet only 24% are financially literate. With a Total Addressable Market (TAM) of 620Mn, as population in the age bracket of (18-35Y); SAM of 180Mn in Tier I & Tier II Cities and SOM of 78Mn, there is a huge growth potential for Simplified Wealth Management solutions for millennials and Youth. Stack is witnessing 100% MoM growth as of now and we wanted to keep backing them on the way”

Smriti further adds “After users answer a few questions, Stack curates the perfect investing strategy for their users using the Smart Stack Approach - based on Nobel-prize winning research. Funds raised will be utilized to introduce more investment of erings, launch India’s first wealth based lending program, and to expand the team across various profiles,”

Intelligent investing platform is also in advanced talks to raise fresh funding from new and existing investors for its next round of financing.

About Stack – 

Stack is bringing investing on autopilot experience for everyday investors. Choosing and managing one’s own investments can be hard, but Stack makes investing extremely easy and simple so that everyone can become an ‘expert investor’. In just 5 mins Stack builds a custom plan for users, keeping their risk appetite and goals in mind, to make a fully balanced globally diversified portfolio which is automatically rebalanced and adjusted over the time.

Problem(s) that Stack Finance is addressing:

Lack of financial awareness and accessibility to better and right investment options.

Solution:

• Stack makes the investing services and professional tools that have been limited to only the ultra wealthy, available to everyone!
• Stack app builds a range of investment strategies with globally diversified portfolios for different types of user personalities according to their risk appetite.
• Users just have to answer a few quick questions, and we suggest a suitable investment portfolio by applying a Nobel Prize winning algorithm and AI driven portfolio allocation strategy known as “Smart Stack Approach”. Once the user invests through Stack, it keeps a check on their account and the markets, making the necessary adjustments to keep them on track, hence helping their users to reach their goals on time.

Co-Founder’s Details –

• Smriti Tomar (CEO)
• Tushar Vyas (CBO)

Founding team members:

• Vidit Varshney
• Yashwardhan Pauranik

Market Potential -

The pandemic (Covid19) accelerated financial awareness in India, getting India now ahead of China in financial inclusion metrics. India has witnessed ALL-TIME HIGH growth in DEMAT accounts, with over 10M account additions in 2021 alone. Yet over 75% of the DEMAT accounts have little to no activities owing to the conservative investing attitude and lack of understanding of the equity markets, making participation in the equity markets in India stagnated at 3.7% as compared to 12.7% in China and 56% in the USA. And hence 96% of the savings in India are still going into gold purchase, bank deposits, insurance, property, etc, which rarely beats inflation. Stack aims to increase participation of Indians into equity markets by using smart automation to make investing simple and easy for everyone.