ICONIQ Growth, Prosus bet on UnifyApps, Equal in Series A rounds

By Roshan Abraham

  • 11 Nov 2024
Ashutosh Sharma, Head of India and Asia investments, Prosus

Venture capital investors ICONIQ Growth and Prosus Ventures have led separate Series A investment rounds in AI-based app integrating platform UnifyApps and identity verification aggregator Equal, respectively. 

Gurugram-based UnifyApps, an AI-driven platform to integrate software-as-a-service (SaaS) applications within a business, has raised $20 million in Series A funding led by ICONIQ Growth

The round also saw participation from existing investor Elevation Capital, among others, UnifyApps said in a statement. 

With the closing of the latest round, the startup has raised $31 million in total funding. 

The AI-led app integrator said ICONIQ's General Partner Matt Jacobson has joined the company's board of directors as part of this round. It also appointed Haitham ElKhatib, who previously served as the senior vice president of sales at Sprinklr, as the company’s chief revenue officer. 

The startup was founded in 2023 by Pavitar Singh with Abhishek Khurana, Rachit Mittal, Sumeet Nandal, Haitham Elkhatib, Abhinav Singi, Rahul Anishetty, Kavish Manubolu, Shivam Satrawal, and Rohan Vijay. 

UnifyApps integrates with all the SaaS applications within a business, making it easy for companies to view and manage all their data in a single place. It says the platform allows teams to automate business workflows and create sophisticated enterprise-grade applications using its no-code approach.  

Equal   

Data sharing platform Equal has raised $10 million (Rs 84.4 crore) in Series A funding round led by Prosus Ventures as it seeks to expand operations of its identity sharing ecosystem. 

The Dutch investor was joined by Blume Ventures' Founders Fund, DST Global, Tomales Bay Capital, and Valiant Capital. 

A number of individual investors such as Flipkart co-founder Binny Bansal, Adani Group’s Karan Adani, Cred’s Kunal Shah, Snapdeal co-founder Kunal Bahl, Zerodha’s Nikhil Kamath and JSW Group’s Parth Jindal also invested in the company. 

Following the latest funding, the Hyderabad-based startup is worth $80 million at a post-money valuation. 

The company is an identity verification aggregator, providing businesses with a platform to manage know-your-customer (KYC), fraud prevention, onboarding, income validation, and regulatory compliance. It claims to have access to over 50 ID databases and over 4,000 API providers. 

In August, Equal invested in account aggregator OneMoney, combining financial data sharing with its core ID verification services. 

Equal was founded in 2022 by Keshav Reddy, a former venture capitalist who has invested in Cred and Upstox among others, and Rajeev Ranjan, an engineer with more than 15 years of experience working in companies such as Swiggy, Amazon and Oracle.