Analytics company VuNet-Funding has raised $5 million in Series A funding round led by Mela Ventures and Athera Venture Partners, formerly Inventus India.
The round also saw participation from Dallas Venture Capital and TVS Capital Funds.
“The funding will be used to accelerate the research and development of new AI/ML led product offerings and the expansion of global operations across India, Asia and the US," the company said in a statement.
VuNet Systems is co-founded by Ashwin Ramachandran, Bharat Joshi, and Jithesh Kaveetil, with more than 20+ years of extensive experience in creating deep tech enterprise products for global markets.
“VuNet is excited to count some of the most well-known names in the financial institutions among our customers. We will continue to focus on expanding our customer growth and our product base to create more intelligent, actionable insights for operations, business and CXOs to accelerate their digital transformation," said Ashwin Ramachandran, co-founder and chief executive officer of VuNet Systems.
“Real-time and in-depth visibility into the customer and business journey is fast becoming a key differentiating factor between realizing or missing the digital dreams. VuNet’s AI-based observability platform provides that missing intelligence for businesses. The fact that leading financial institutions trust VuNet is proof of its growing importance and potential. We are excited to partner with VuNet. The leadership team has great vision and goals to be the category leader," said Krishnakumar Natarajan, managing partner at Mela Ventures.
“In today’s hyper-inter-connected world, real-time observability is key to ensuring smooth transactions. VuNet has the unique ability to stitch together siloed views and present business journeys in a unified view for end-user context. The technology solidity of VuNet’s team, their strong domain expertise, and marquee customers is what excited us about the value creation opportunity here", said Samir Kumar, GP at Athera Venture Partners (formerly Inventus India).
“We are excited by the opportunity to bring DVC Advantage to play a transformative role in VuNet’s growth strategy, which is centered around revenue acceleration from expansion in Asian and the US markets," said Gokul Dixit, Venture Partner, DVC.