Nected, a Gurugram, India-based Software-as-a-Service (SaaS) startup, has raised $1.5 million in seed funding.
Investors
The round was led by Flipkart founder Binny Bansal’s venture fund, Three State Ventures, with participation from Endurance Capital, Relentless VC, Climber Capital, Lykke Capital, and Forward Slash Capital.
Additionally, over 15 founders and CXOs participated in the round, including Nitin Gupta from PayU, Pallav Pandey from Uolo and Knowlarity, Archit Gupta from Clear, Tonmoy Shingal from Mettl, Ravi Bhushan from BrightChamps, Akshay Saxena from Avanti Fellows, Puneet Kumar from Supr Daily (acquired by Swiggy), and Prashant Kumar from Unbxd.
Three State Ventures is a venture capital fund investment vehicle of Bansal, sponsored through his capital.
Nected Use of Funds
The company will use the funds to enhance product usability, simplify integration with various technologies, and scale operations.
About Nected
Founded in 2022, Nected is a low-code/no-code rule engine and workflow automation platform designed for product, growth, and tech teams to launch dynamic workflows quickly, experiment more, and iterate faster. By offering ready-made components, Nected helps businesses overcome inefficiencies and delays associated with traditional software development. The platform is currently used by over 20 customers across five countries, including online pharmacy Tata 1mg.
Funding Details
Company: SocioVerse Tech Pvt Ltd
Raised: $1.5M
Round: Seed Round
Funding Month: July 2024
Lead Investors: Three State Ventures
Additional Investors:
Company Website: https://www.nected.ai/
Software Category: Workflow Automation
Source: https://economictimes.indiatimes.com/tech/funding/saas-startup-nected-raises-1-5-million-in-funding-from-binny-bansals-three-state-ventures-others/articleshow/112158374.cms