India’s Clodura.AI Debuts GenAI GTM Platform to Streamline Sales Tech for Global Enterprises

Clodura.AI, an Indian GenAI SaaS company, has launched what it calls the country’s first GenAI-powered Go-to-Market (GTM) platform. Built in India and designed for global markets, the platform brings together enrichment, verification, buyer intelligence, intent signals, AI-led outreach, and calling into a single interface, aimed at reducing complexity and costs for sales teams.

Revenue and GTM teams worldwide are plagued by a universal pain: excessive, fragmented stacks of sales technology. Sales reps juggle multiple data sources, verifiers, engagement tools, and dialers, wasting time, inflating budgets, and lowering productivity. For years, the playbook has been predictable. Teams buy a single-database vendor like ZoomInfo or Apollo.io, then quickly realize one source is not enough. They add a verifier, add an outreach platform like Outreach, a call dialer and a Call Analysis tools such as Gong. Suddenly, the tech stack becomes six vendors deep, budgets spiral, and SDRs keep chasing unverified leads.

Sales professionals often rely on multiple vendors for databases, verification, engagement, and dialers. This fragmented approach increases costs, slows outreach, and adds layers of inefficiency. Clodura.AI’s unified platform seeks to address this challenge by offering an integrated system that connects with 50+ email and 20+ phone providers in real time, ensuring verified and accurate contacts.

AI agents built into the platform automate routine tasks such as drafting emails, sequencing campaigns, and follow-ups, freeing up sales representatives to focus on conversations that move deals forward.

Large enterprises and multinationals like Wipro, Reliance, PhonePe, ITC, Bosch, EY, Naukri, and Times Group have consolidated their GTM stacks with Clodura.AI, reporting stronger contact accuracy, improved call connect rates, speedier campaigns, and lower GTM costs.

“Fragmented GTM stacks slow growth, increase costs, and frustrate teams,” said Kapil Khangaonkar, Founder & CEO of Clodura.AI. “We solve this by uniting data, verification, intelligence, engagement, and closure in one Indian-built platform engineered for global scale. Clodura empowers teams to work smarter, faster, and with predictable outcomes.”

Abhay Nawathey, CTO of Clodura.AI, added: “Data ages, verification cannot be static, and reps should not waste hours on busywork. Our AI platform seamlessly integrates multiple providers and automates follow-up sequences to create productive conversations.”

“Clodura.AI exemplifies India’s AI leadership by solving a universal GTM pain point with innovation that scales globally”, said Somshubhro Pal Choudhury, Co-Founder & Partner at Bharat Innovation Fund.

India’s SaaS ecosystem has been steadily moving beyond its outsourcing legacy to building global products. Clodura.AI’s platform highlights this shift, positioning Indian-built technology as a credible alternative in the global GTM software space.

Capri Global Selects Girnar Finserv's InsurTech Platform, Heph, As Its Technology Partner

• Capri anticipates reduced policy issuance time by 80% with multi-insurer product comparison suiting their customer needs

Heph, India's largest Insurance SaaS Platform and a Girnar Finserv Entity has announced its partnership with Capri Global Capital Ltd known by the brand name Capri Loans, one of the leading NBFCs known for its innovative approach to lending and financial services in India. Capri has chosen Heph as its technology partner owing to its comprehensive white-label Insurance SaaS platform tailored to BFSI needs.

Through this collaboration, Capri Loans will seamlessly embed insurance products across its lending ecosystem, including the introduction of a Group Health Insurance product and other insurance product as per the customer requirements and choice. Having integrated Heph’s multi-insurer, multi-channel capabilities, Capri Global will offer customized third party insurance solutions directly within its loan products, driving a new revenue stream while enhancing customer value.

How Capri Loans Benefits from Heph’s Insurtech Solutions:

• Seamless White-Label Integration: Heph’s API-driven, fully customizable platform enables Capri Loans to embed insurance within its existing digital ecosystem to be obtained by customers at their option, ensuring a frictionless experience for customers and sales teams alike.
• Multi-Insurer, Multi-Channel Capability: Capri Loans can now offer a diverse range of insurance products, including custom-created products (Motor, Health, Life, Group), through various distribution channels including Assisted, D2C, and Embedded, enhancing cross-sell opportunities.
• Custom Workflows for Optimized Operations: The platform is tailored to Capri Loan’s operational needs, automating policy issuance, claims processing, and compliance workflows to ensure smooth execution at scale.
• Reduced Policy Issuance Time by 80%: Heph’s advanced automation tools drastically cut down processing time, enabling issuance of policies in minutes rather than days.
• Comprehensive Backend Management: The platform consolidates operations, including policy administration, invoice management, IRDAI compliance, and reporting, ensuring complete regulatory adherence.
• Enterprise-Grade Security: With SOC2 and ISO-certified security protocols, Capri Loans benefits from best-in- class data protection and encryption standards.

Ayush Bagmar, Business Head of Heph, said, “At Heph, we are reimagining the way insurance is distributed by enabling financial institutions to introduce the right insurance products to the right audience. Our partnership with Capri Global furthers this vision. By leveraging Heph’s white-label, full-stack platform, Capri Global can now scale its offerings and drive meaningful engagement through its platform”

Magesh Iyer, Chief Operating Officer at Capri Global Capital Ltd added, “Offering our customers a wide array of insurance solutions that fits their requirement is an important objective for us. We also understand that beyond offering the right solutions, the experience of the same has to be customer oriented. This partnership enables us to reimagine the entire customer journey. Heph’s platform, a one stop shop for all insurance needs will accelerate our growth and help us serve our customers better.”

With Heph as its insurtech partner, Capri Loans is set to unlock new growth opportunities, boost policy issuance speed, and drive significant revenue expansion through insurance cross-sell, potentially increasing revenue The partnership marks a pivotal step in digitizing insurance distribution in the BFSI sector, setting new benchmarks for operational excellence and customer-centric financial solutions.

NIIT Acquires iamneo to Strengthen Footprint in Digital Skilling Ecosystem

NIIT Limited, a global leader in skills and talent development, has acquired 70% stake in iamneo, a leading provider of technology training solutions through an AI powered and deep skilling SaaS platform focused on enhancing tech hiring, training, and learning outcomes for universities and enterprises.

This strategic acquisition unlocks substantial growth opportunities, enabling NIIT and the Company to deliver robust, outcome-driven learning solutions at scale for undergraduates and early career professionals through University and Corporates.

Anand Rathi Investment Banking acted as the buyside Investment Banking advisor to NIIT Limited, providing end-to-end strategic and transaction advisory. This marks the firm’s strong execution capabilities and deep domain expertise across the education and skilling domain.

Mr. Vijay Thadani, Co-founder & MD, NIIT Limited. said, "Anand Rathi Advisors played an important role in structuring a balanced, win-win deal. Their perseverance, domain insight, and strategic inputs were invaluable to the success of this acquisition.”

Mr. Samir Bahl, CEO, Anand Rathi Investment Banking, commented: "This transaction exemplifies the growing convergence of AI, digital learning, and workforce readiness. We are proud to have supported NIIT in this strategic acquisition that deepens its digital skilling portfolio and enhances its relevance in a rapidly evolving talent ecosystem. At Anand Rathi, we remain committed to advising forward-looking businesses in the education and technology sector."

SpaceBasic Acquires CAMPUS to Expand AI-Driven University Automation

SpaceBasic, a B2B Saas company that automates student housing and cafeteria operations for universities and educational institutions, has acquired CAMPUS, a B2B, SaaS platform automating attendance, simplifying check-ins, and keeping student engagement effortless and on point for universities. This strategic acquisition will strengthen SpaceBasic’s goal of offering a fully connected campus experience for students.

Founded in 2021 by Shahid M and Siva Sai during their college days, CAMPUS was created to eliminate clunky access systems and tedious attendance tracking. Today, it powers seamless check-ins, automates administrative workflows, and tracks attendance for 10,000+ students daily. With real-time tracking via QR, RFID, and facial recognition, CAMPUS transforms manual processes into intelligent, data-driven solutions. From attendance management to digital student identification, institutions can now experience a smarter, more connected ecosystem.

Commenting on the acquisition, Madhavi Shankar, CEO and Co-Founder, SpaceBasic, said,

Universities today need more than just software—they need intelligent, connected systems that make campus life effortless. At SpaceBasic, our mission is to simplify and transform university operations. Integrating CAMPUS into our ecosystem accelerates our growth and reinforces our vision of building smarter, more connected educational institutions.

 

SpaceBasic Team

Siva Sai, Co-Founder, CAMPUS, said, 

We founded CAMPUS to help institutions reduce manual tasks and make data-driven decisions effortlessly. Our focus was towards streamlining classroom attendance and fostering a connected student community for better collaboration. With SpaceBasic, we are expanding our reach and enhancing our technological ability to empower campuses to operate with greater efficiency.

With SpaceBasic, essential student housing (hostel) operations—room allocation, asset management, maintenance tracking, student approvals, payment processing, IoT-enabled smart ID integration, and digital cafeteria management—are seamlessly automated for a smarter, more efficient experience. Focused on sustainability and energy efficiency, SpaceBasic’s partner universities have achieved a 5x increase in operational efficiency and a 3x reduction in wastage.

In India, SpaceBasic works with 70+ universities, including top institutions like IIM, O.P. Jindal University, Shoolini University, D.Y. Patil University, and Chanakya University. Recently expanding into Malaysia, the company is set to grow further across Southeast Asia.

SpaceBasic is Asia's largest AI-powered student housing automation platform, empowering over 400,000 users across 80+ universities in India and Southeast Asia. Designed to streamline student housing, access control, payments and cafeteria operations, enhancing both university efficiency and student experiences on campus.

https://www.spacebasic.com

LinkedIn: https://www.linkedin.com/company/spacebasicapp/

Jabalpur, MP-based MBG Card Raises ₹2.72 Cr Led by IPV to Empower Digital Transformation for SMEs

• MBG Card is a SaaS company offering affordable digital transformation solutions, helping SMEs create an online presence, manage reviews, and automate marketing and operations.
• The funds will be used to enhance marketing efforts, expand product development, and build a strong team.
• MBG Card serves over 10,000 clients nationally and internationally.
• MBG Card was awarded Seed Funding under the Startup India Seed Fund Scheme in 2023.
• So far, Inflection Point Ventures has invested over INR 790 Cr across 210+ startups

MBG Card, a Jabalpur, Madhya Pradesh-based SaaS company providing digital transformation solutions for businesses, has successfully raised ₹2.72 Crore in a funding round led by Inflection Point Ventures. The round saw participation from Velocity Revenue Based Financing and Klub Revenue Based Financing. This funding will be used to enhance marketing efforts, product development, and team building.

MBG Card is a SaaS company focused on providing affordable and comprehensive digital transformation solutions for SMEs. The platform enables non-tech-savvy businesses to easily build an online presence, manage review ratings, and automate marketing and operations, all at a fraction of the cost of traditional solutions. With a mission to empower businesses to thrive in the digital space, MBG Card streamlines processes, enhances customer engagement, and drives growth through accessible and efficient tools.

Founded by Abhinavv Dubeyy, an experienced entrepreneur with over 15 years in tech startups, MBG Card has been delivering affordable digital transformation solutions, helping SMEs create an online presence, manage reviews, and automate marketing and chat operations. At just 1/10th the price of traditional solutions, MBG Card caters to businesses that are not tech-savvy, making digital tools accessible to all.

Mitesh Shah, Co-Founder, Inflection Point Ventures, says “SMEs often enjoy the loyalty of regular local customers, however it is limited to that locality. It is a challenge to establish a presence beyond that. MBG card addresses this gap by bringing the businesses online, transforming them into a brand, and providing tools to help them grow. IPV has confidence in MGB’s expertise to empower businesses in today’s competitive landscape”.

Based in Jabalpur, Madhya Pradesh, MBG Card serves over 10,000 clients across India and internationally. The company continues to grow at a rapid pace, onboarding thousands of new clients each month, and expanding its presence globally. With a dedicated team of 70+ employees, MBG Card aims to maintain its threefold annual growth trajectory.

MBG Card offers a comprehensive, one-stop digital transformation solution tailored for non-tech-savvy businesses. With its affordable pricing, just 1/10th of traditional alternatives, MBG Card simplifies the process of creating an online presence, managing review ratings, marketing, and automating customer chat functions.

Abhinavv Dubeyy, Founder & CEO, says, "Our experience with IPV shaped the vision for MBG Card. Our goal is to help SMEs embrace the digital world, drive marketing and sales, and streamline operations to foster growth and customer engagement."

The global digital transformation market is expected to reach $1.5 trillion by 2025, with India’s SaaS market growing at a rapid pace due to increasing adoption by SMEs. With over 63 million SMEs in India, there is a huge demand for affordable digital solutions like MBG Card.

About MBG Card

Founded in 2021 by Abhinavv Dubeyy, MBG Card is a SaaS company specializing in digital transformation solutions for SMEs. The platform provides affordable tools to help businesses enhance customer engagement, boost revenue, and automate operations.

About Inflection Point Ventures (IPV)

Inflection Point Ventures (IPV) is an angel investing platform that brings together over 23,500 CXOs, HNIs, and professionals to invest in startups. IPV has deployed significant capital in early-stage startups, providing both financial and experiential support to help entrepreneurs scale their businesses.

IBM Acquires Bengaluru-based SaaS Startup Prescinto Specialized in APM for Renewable Energy Assets

IBM has announced that it has acquired Prescinto, a leading provider of asset performance management (APM) software-as-a-service (SaaS) for renewables.

Founded in 2016, Prescinto is a Bengaluru-based software-as-a-service (SaaS) startup specializing in asset performance management (APM) for renewable energy assets. It works with and services global customers across 14 countries with 16 GigaWatts under management.

Prescinto's platform leverages artificial intelligence (AI) and advanced analytics to provide actionable insights for solar, wind, and energy storage assets. This acquisition is expected to strengthen IBM's position in the renewable energy sector and support global efforts towards clean energy management.

The acquisition of Prescinto will enhance the capabilities of IBM Maximo Application Suite (MAS), IBM’s solution for asset lifecycle management. Moreover, it will further IBM’s leadership in the energy and utility space, an industry undergoing significant transformation and seeking solutions to manage and optimize wind, solar, and other renewable energy storage assets. Water, natural gas, oil, nuclear, and other energy and utility enterprises globally already utilize IBM MAS.

Organizations are increasingly turning to alternative energy sources like wind, solar, and energy storage to help reduce emissions and lower energy costs. Yet, it can be daunting to effectively manage and maximize the performance of high-tech devices like turbines, solar panels and inverters, which generate power from renewable energy assets. In addition, environmental factors like weather and debris can contribute to reducing energy output, system effectiveness, and system uptime.

According to Allied Market Research, the value of the global utilities asset management market is expected to grow from $4.3 billion in 2022 to $12.4 billion in 2031, with a CAGR of 11.3 percent.

The Prescinto acquisition will further enable IBM to support clients’ sustainability initiatives and net-zero goals, allowing users to track and monitor the performance of solar, wind and energy storage assets in near real-time; identify root causes for underperformance; and recommend actions to optimize generation.

IBM QRadar's SaaS Assets Acquired by Palo Alto Networks for $500 Mn

Palo Alto Networks has officially completed the acquisition of IBM's QRadar Software as a Service (SaaS) assets.

This $500 million deal is expected to significantly enhance Palo Alto Networks' Cortex XSIAM platform, which integrates various security operations capabilities like SIEM, SOAR, ASM, and XDR.

IBM QRadar is a comprehensive security information and event management (SIEM) solution. It is a powerful tool for modernizing security operations and enhancing the overall security posture of organizations.

This acquisition strengthens the partnership between Palo Alto Networks and IBM, aiming to provide advanced AI-powered security solutions and streamline security operations for their customers.

IBM will also support the transition by offering no-cost migration services for eligible customers through IBM Consulting.

QRadar was originally developed by Q1 Labs, a company founded in 2001. The initial product was an anomaly detection engine, which later evolved into an Intrusion Detection System (IDS) and eventually into a Security Information and Event Management (SIEM) system.

In 2011, IBM acquired Q1 Labs and integrated QRadar into its security portfolio. This acquisition allowed IBM to enhance its security intelligence capabilities and offer a comprehensive solution for threat detection and response.

To recall, in June this year, IBM signed an agreement to acquire SKYARCH NETWORKS INC., a Japan-based professional services company specializing in Amazon Web Services (AWS).

Wipro Introduces the Lab45 AI Platform that Operates on SaaS Model

Wipro has recently launched the Lab45 AI Platform, a state-of-the-art Generative AI (GenAI) platform that aims to enhance productivity and transform business operations across various sectors. This platform, which operates on a Software-as-a-Service (SaaS) model, supports a range of advanced Large Language Models (LLMs) from leading providers, as well as custom deep-learning and other models.

The Lab45 AI Platform is designed to:

• Accelerate the adoption of GenAI with applications, agents, and APIs.
• Drive strategic decision-making with data-driven insights.
• Boost business growth and efficiency.
• Enhance customer experiences with personalized and seamless interactions.

It offers over 1,000 GenAI agents and more than 10 Generative AI applications, facilitating no-code and low-code pre-built applications for HR, sales, marketing, and operations functions. The platform also enables the creation of industry-specific GenAI agents and applications.

For instance, in HR, the platform has significantly reduced the time required to read and interpret clauses from large contracts, improving turnaround time and accuracy in the background verification process. In sales, it has enhanced sales and revenue forecasting, analysis, and report generation.

With over 1,000 GenAI agents and more than 10 GenAI applications, the platform offers no code and low code pre-built applications for HR, sales, marketing, and operations functions, while also allowing for the easy creation of industry specific GenAI agents and applications.  

“Our Lab45 AI Platform is a testament to Wipro's commitment to innovation and productivity,” said Subha Tatavarti, Chief Technology Officer, Wipro Limited. “We are excited about the transformative impact this platform will have across the business, particularly in HR, sales, marketing, and other business functions. Our platform will help our customers innovate faster while balancing privacy and responsible AI."    

With API-based access for custom applications, the platform makes it easier for clients to deploy GenAI to their environments. In fact, Topcoder, a Wipro platform connecting customers to its 2-million-member global talent network, has been using Lab45 AI Platform’s APIs (application programming interfaces) since October 2023, resulting in a seven-fold increase in GenAI usage.  

Further, over the past six months, select Wipro teams and external users have been using the platform and realizing significant time savings and productivity gains.

The Lab45 AI Platform is a testament to Wipro's commitment to innovation and productivity, and it's expected to have a transformative impact across business functions.

SAP Acquires WalkMe, A Digital Adoption Platform (DAPs), for $1.5 Billion

SAP SE has announced its definitive agreement to acquire WalkMe Ltd., a leader in digital adoption platforms (DAPs), for approximately $1.5 billion in an all-cash transaction.

A Digital Adoption Platform (DAP) is an automated software tool that is layered on top of an enterprise application. Its primary purpose is to facilitate the onboarding process for new users, guide them on how to use the organization's applications effectively, and provide insights into how users interact with the application Interface.

This acquisition is set to enrich SAP's Business Transformation Management portfolio, which includes SAP Signavio and SAP LeanIX solutions, and is aimed at enhancing the customer experience and driving business transformation.

The offer price of $14.00 per share represents a 45% premium over WalkMe's closing share price on June 4, 2024. WalkMe's technology focuses on automating contextual, in-app support, which is expected to bring significant value to SAP's enterprise customers. The acquisition is approved by the Executive and Supervisory Boards of SAP SE and the board of directors of WalkMe.

WalkMe's initial public offering (IPO) took place in June, 2021, and resulted in a valuation of US$2.56 billion in that year. However, the Israeli company was valued at less than $880 million on Tuesday, meaning the offer of $14 per share represents a 45% premium.

WalkMe's DAP works on top of an organization's application landscape, providing users with advanced guidance and automation features that enable them to execute workflows seamlessly across any number of applications. This results in higher adoption of the underlying application and drives value realization. Importantly, WalkMe will continue to fully support non-SAP applications.

The acquisition marks a significant milestone for both companies, with SAP CEO Christian Klein emphasizing the importance of applications, processes, data, and people in successful business transformation. WalkMe CEO Dan Adika expressed excitement about joining forces with SAP, highlighting the potential for substantial growth opportunities and greater value delivery to customers.

Soon, WalkMe plans to launch the WalkMe^X copilot, which will use WalkMe's contextual awareness and AI to suggest the best next steps for any workflow, anywhere. This innovative feature is expected to serve as an overlay to any application, including copilots from different vendors that companies use in their landscapes.

“Applications, processes, data and people are the four key elements of a successful business transformation,” said Christian Klein, CEO and member of the Executive Board of SAP SE. “By acquiring WalkMe, we are doubling down on the support we provide our end users, helping them to quickly adopt new solutions and features to get the maximum value out of their IT investments.”

The acquisition is subject to customary closing conditions, including the receipt of WalkMe shareholder approval and necessary regulatory clearances, and is expected to close in the third quarter of 2024. The impact of the transaction on SAP’s non-IFRS earnings per share for fiscal 2024 is expected to be immaterial.

With $700 Mn Investment Plan, Zoho Entering Semiconductor Chip Designing

Zoho, the Indian SaaS giant, is making a significant move into the semiconductor industry with a planned investment of $700 million into chipmaking. This strategic decision aligns with India's broader business agenda to strengthen its position in the high-tech sector, particularly in semiconductors, which are crucial for various industries including defense, automobiles, and telecommunications.

The company is seeking government incentives to support this venture, which focuses on compound semiconductors. These are made from materials other than the commonly used silicon and have specialized commercial applications. Zoho's proposal is currently under review by the panel that oversees India's chip initiatives at the IT Ministry – MeitY.

Moreover, Zoho is believed to have secured a strategic partnership with a technology company to establish chip manufacturing operations, which could lead to further collaborations and business opportunities.

This move comes as part of a larger national effort, with India having already approved the construction of three semiconductor plants worth over $15 billion. The country aims to compete with global semiconductor hubs like Taiwan and has projected its semiconductor market to be worth $63 billion by 2026.

Zoho's foray into chipmaking marks a significant diversification for the company, which has been known for its software and related services offered to businesses in over 150 countries. It's a bold step that could potentially reshape India's technological landscape and contribute to the global semiconductor supply chain.

The substantial investment of $700 million indicates a major financial commitment. While Zoho has a strong financial background with annual revenues exceeding $1 billion, this new venture could initially divert resources from its core software business. The move could create synergies between its software and hardware capabilities, potentially leading to the development of integrated tech solutions.

As Zoho enters a new market, it may gain a competitive edge by becoming one of the few companies that offer both software services and semiconductor products.

HCLTech and Cisco Launch Pervasive Wireless Mobility as-a-Service

HCLTech and Cisco have launched a new service called Pervasive Wireless Mobility as-a-Service. This innovative service aims to provide secure and seamless enterprise-wide connectivity, combining HCLTech's expertise in managed network services with Cisco's Ultra-Reliable Wireless Backhaul (URWB) technology.

The service is designed to create a resilient network infrastructure that offers robust connectivity, essential for operations and experiences in industrial and mission-critical environments. This includes applications such as vehicle connectivity in factory areas, mobile worker connectivity in mining areas, remote patient care, real-time data access at retail stores, and fleet connectivity at terminals.

This collaboration is expected to accelerate network transformation journeys for clients, offering an end-to-end managed secure network service that simplifies complexity, increases efficiency, and enhances the end-user experience through a flexible consumption model. It's a significant step towards integrating next-gen applications and a variety of wireless technologies to transform businesses across various industries.

The Pervasive Wireless Mobility as-a-Service is a unique offering is designed to provide secure and seamless connectivity across various industries, which is essential for operations in industrial and mission-critical environments.

The use of Cisco's URWB technology ensures a highly reliable wireless backhaul, which is crucial for applications requiring consistent and uninterrupted connectivity.

Real World Use Cases

The Pervasive Wireless Mobility as- a-Service offered by HCLTech and Cisco has several real-world use cases across different industries. Some of them are:

Factory Areas (Vehicle Connectivity):

In manufacturing facilities, this service ensures seamless connectivity for vehicles used in production lines.

Whether it's automated guided vehicles (AGVs), forklifts, or delivery trucks, reliable wireless connectivity is essential for efficient operations and real-time tracking.

Mining Areas (Mobile Worker Connectivity) :

In mining environments, mobile workers need connectivity for communication, safety, and data access. This service enables miners to stay connected even in remote or hazardous locations, improving productivity and safety.

Healthcare (Remote Patient Care):

Hospitals and healthcare providers can benefit from this service by ensuring continuous connectivity for remote patient monitoring. From wearable devices to telemedicine applications, reliable wireless networks are crucial for delivering quality healthcare remotely.

Industrial IoT Applications:

The Internet of Things (IoT) devices in industrial settings (such as sensors, cameras, and machinery) rely on wireless connectivity. Pervasive wireless mobility ensures that these devices can communicate seamlessly, enabling predictive maintenance, process optimization, and data-driven decision-making.

SAIL Partners SaaS Startup Sentra.World for Carbon Emission Tracking and Reduction

The Steel Authority of India Limited (SAIL) has partnered with the Bengaluru-based SaaS startup Sentra.world to pioneer carbon emission reduction in steel production.

This collaboration involves using Sentra.world's advanced carbon tracking software at SAIL's Durgapur Steel Plant and its Environment Management Division.

sentra.world is a B2B SaaS carbon accounting software company that helps industrial businesses measure, report, certify, and reduce their carbon emissions.

The initiative is a significant step towards sustainable and eco-friendly practices in the steel industry, aiming to comprehensively monitor and manage carbon dioxide emissions across various production facilities. This partnership aligns with global efforts to decarbonize economies and minimize the environmental impact of industrial activities.

Founded in 2023 by two ex-McKinsey junior partners — Harsh Choudhry and Vikas Upadhyay — each with 16+ years of experience in sustainability, industrial manufacturing and digital technology, Sentra.world's software help industrial companies track and reduce their CO2 emissions. It uses a combination of AI and blockchain technology to provide a comprehensive view of emissions, employing various methods for accurate assessments.

The software uses recognized methodologies like the GHG protocol and standards set by the World Steel Association to measure CO2 emissions.

The startup is headquartered in Bangalore and has received a total funding of $2.0 million from investors such as Avaana Capital, Golden Sparrow Ventures and RPG Ventures.

Sentra.world's software is gaining traction in the industrial sector, particularly among companies focused on sustainability and carbon emission reduction. The software is designed to cater to industries such as Steel, Aluminum, Cement, Chemicals, and Utilities. These sectors are critical for decarbonization efforts due to their significant greenhouse gas emissions. Sentra.world's approach, which combines AI and blockchain technology, is particularly suitable for businesses looking to meet ESG compliance, access new markets, and reduce costs while managing their environmental footprint.

Bain Capital Tech Opportunities to Invest in Finova and Acquire Iress' Uk MSO Software Business for $108.6 Mn

Bain Capital Tech Opportunities, the growth investing arm of Bain Capital, agreed to a majority investment in Finova and to acquire Iress' UK Mortgage Sales and Originations software business (“MSO”), for £85 million (€99.4 million; $108.6 million). Bain Capital expects to offer a fuller set of products by combining these two investments.

Bain Capital Tech Opportunities is the growth investing arm of Bain Capital, which focuses on companies in large, growing end markets with innovative or disruptive technology. The fund invests in application software, fintech and payments, healthcare IT, and infrastructure and security.

finova, based in London, provides a comprehensive suite of modular, open-architecture SaaS-based originations and servicing solutions to help the full spectrum of specialist lenders, equity release lenders, savings institutions, and brokers manage key workflows. Its software enables customers to efficiently manage their pricing and decisioning, underwriting, application processing, and servicing of loans. MSO, based in Cheltenham, is a leading provider specialising in residential mortgage and buy-to-let origination software to banks and building societies in the U.K. since 2014.

The mortgage market is becoming faster paced and more complex, increasing the need for more sophisticated software tools such as personalised pricing. These combined businesses will be well positioned to meet the demand for more advanced software. Customers will also benefit from a broader software suite that supports a wider range of financial products.

“We are excited to back a compelling combination of robust platforms with complementary product suites and customer bases,” said James Stevens, a Managing Director of Bain Capital Tech Opportunities in London. “The combined scale of these two businesses will allow us to offer more competitive and innovative products in a dynamic market, ultimately bringing more choice to consumers across the country.”

Paraag Davé, Executive Chairman of finova, said: “Bain Capital’s investment in each business will strengthen and invest in the capabilities of both platforms and help deliver increased value to our customers. We are thrilled to blend finova’s SaaS expertise in complex solutions such as pricing, decisioning, specialist lending, savings, and loan servicing with MSO’s leadership in residential mortgage originations.”

Andrew Simon, MSO CEO, said: “This is the ideal outcome for our business and our customers. Bain Capital is fully committed to investing in MSO to ensure our customers continue to benefit from software that is amongst the best in the market. Through the combined business, we're looking forward to bringing a broader set of innovative products to market.”

About Bain Capital Tech Opportunities

Bain Capital Tech Opportunities (www.baincapitaltechopportunities.com) aims to help growing technology companies reach their full potential. We focus on companies in large, growing end markets with innovative or disruptive technology where we believe we can support transformational growth. Our dedicated, tenured team has deep experience supporting growing technology businesses—bringing together differentiated backgrounds in private and public equity investing as well as technology operating roles. We invest behind fundamental long-term tailwinds as technology penetrates across industries, creating a large and growing number of investment opportunities.

About finova

finova is a London-based software firm that provides a comprehensive suite of modular, SaaS based open-architecture software to help lenders and brokers in the Mortgage, Lending and Savings sectors. https://www.finova.tech

About Iress

Iress (IRE.ASX) is a technology company providing software to the financial services industry.

The company provides software and services for trading & market data, financial advice, investment management, mortgages, superannuation, life & pensions and data intelligence.

Iress's software is used by more than 10,000 businesses and 500,000 users globally. We have over 2,000 people based in Asia-Pacific, North America, Africa, the UK and Europe.

This transaction is subject to customary approvals.

Cisco Launches Its First SaaS Product 'Motific'

Cisco Launches Motific, Enabling Organizations to Navigate the Complex World of Generative AI Deployment

• Increases Generative AI (GenAI) adoption velocity from months to days.
• Reduces GenAI security, trust, compliance, and cost risks.
• Unlocks deep visibility and insights into operational and business metrics.

Cisco today announced Motific, Cisco’s first SaaS product that allows for trustworthy generative AI (GenAI) deployments in organizations. Born from Outshift, Cisco’s incubation business, Motific provides a central view across the entire GenAI journey, empowering central IT and security teams to rapidly deliver trustworthy GenAI capabilities across their organizations with control over sensitive data, security, responsible AI, and cost.

Since the expansion and breadth of access to GenAI, 97% of companies have reported that the urgency to deploy AI-powered technology has increased. However, many organizations face challenges in ensuring the AI being utilized includes trustworthy, use-case specific data that complies with organizational policies. One of the biggest hurdles facing organizations is the ability to tailor GenAI applications and solutions on knowledge bases and data sources that are custom to their specific use cases. Current and clean data are critical to operating effectively and can be achieved via techniques such as Retrieval Augmented Generation (RAG).

It is time-consuming for companies to provision and manage GenAI assistants and APIs, integrate models across providers, and hire the talent to manage the process. Instead, they look for a product that can accelerate their AI deployments with minimal investment. Motific, a model and vendor agnostic product, supports the entire GenAI journey from assessment, through experimentation, to production. Motific allows customers to:

• Deploy GenAI faster and more effectively: Motific cuts GenAI deployment times from months to days with compliance controls for over-usage, overrun spending, and integration of organization-specific data sources. With just a few clicks, Motific automatically configures assistants, abstracted APIs, and RAG on organization-wide data sources and foundation models while delivering optimal accuracy, cost, security, and access control.
• Reduce risk and ensure continual compliance: Motific provides built-in policy controls that organizations can use or customize in days, allowing companies to provision based on their own internal policies. These automated controls are built for sensitive data such as personally identifiable information (PII), security such as prompt injection and access controls, and trust-related risks such as toxicity and hallucinations. The platform offers enterprise controls for security, sensitive data, and trustworthiness that can accurately detect and mitigate issues or risks between user inputs and Large Language Model (LLM) responses.
• Track return on investment (ROI) and business insights while optimizing costs: Motific tracks business process and prompt usage intelligence with ROI and cost analysis, including consolidated monitoring audit trail and key metrics tracking of all user requests. The product deters shadow AI usage in organizations by providing visibility into use of unapproved third-party GenAI capabilities and helping IT admins provision organizationally compliant alternatives. Motific can also establish cost budgets and estimations to prevent runaway spend.

“Cisco is rapidly accelerating its product offerings for customers in the Generative AI space to meet the growing artificial intelligence and security compliance demands of enterprises,” said Vijoy Pandey, Senior Vice President, Outshift by Cisco. “Motific accelerates the time to value an enterprise organization spends on GenAI usage and deployment by mitigating the risk up-front and enabling teams to innovate faster.”

Availability:

Motific was created from Outshift, Cisco’s internal incubation engine. Motific will be available to preview at Cisco Live EMEA and will be generally available by June 2024. Customers can visit the Motific webpage for more information or schedule time to speak with the team.

Past Announcements from Cisco

Earlier last month, Cisco partnered with Microsoft and Samsung to unveil integrated video collaboration solutions for Cisco Room Series. The solutions feature Front Row - an inclusive content layout for Microsoft Teams Rooms, with either Samsung’s newly unveiled 105” Smart Signage (model name: QPD-5K) with 21:9 aspect ratio and 5K resolution, or Samsung 4K Smart Signage screens.

In December of last year, Cisco announced the acquisition of Isovalent, a Google and Microsoft-backed technology startup founded by the creators of Cilium and eBPF.

RIC Australia Successfully Implements Infosys Finacle’s SaaS Offering on AWS for Agricultural Financing

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and Regional Investment Corporation (RIC), an Australian Government-backed specialist finance provider for farmers and farm-related small businesses, today announced RIC’s successful implementation of the Finacle Digital Lending Solution Suite in a Software-as-a-Service (SaaS) mode running on AWS.

The transformation project, which included the adoption of the Finacle Online Banking and Finacle Alerts Solution, was completed in just nine months. RIC is now able to offer truly digital financial lending services to its customers in the Australian agricultural sector at significantly lower operating costs and higher self-service capabilities.

The key highlights of RIC’s digital transformation include:

• By choosing a Software-as-a-Service (SaaS) model on AWS, RIC has been able to internalize management of key services, previously provided by a third party. This has led to significant reduction in operating costs and greater efficiencies.
• The new platform, which offers comprehensive API capabilities, has empowered RIC to seamlessly integrate with various service providers across banking, CRM, data lake, and document management providers. With this capability, RIC now has the advantage to implement Federal government mandates much faster than before.
• The Finacle Online Banking Platform, which includes a smart dashboard, is helping RIC offer self-service features to customers, thereby reducing dependencies on customer care support. The new interface provides rich and truly digital functionalities, which has resulted in increased customer satisfaction and enhanced staff engagement.

Chris Rawlins, Executive Director Transformation, Regional Investment Corporation (RIC), said, “At RIC, our mission is to nurture the growth of the Australian farm businesses through affordable loans, while also ensuring their resilience and profitability. With the Infosys Finacle Lending solution, we have a proven technology platform to support the evolving demands of our business and customers, with the agility to roll out new products and regulations as mandated by the Federal Government. The nine-month implementation by the Infosys Finacle team was delivered on schedule and we are impressed by the team’s commitment to facilitate RIC in achieving a smooth transition without any disruptions to our customers."

Sajit Vijayakumar, Chief Business Officer, Infosys Finacle, said, “We are delighted to support RIC in their mission to financially empower the farm businesses in Australia through the Infosys Finacle SaaS platform. This collaboration is yet another testament to Finacle’s commitment to the Australian market, to support financial institutions of all kinds and sizes – banks, credit unions, mutuals and non-banking lenders – on their digital transformation journeys."

Last week, Infosys announced that it is advancing it’s AI footprint at the 2024 Australian Open (AO) with generative AI technologies for fan engagement, player performance, and digital content creation.

Regional Investment Corporation (RIC) is an Australian Government-backed specialist finance provider for farmers and farm-related small businesses. Their loan programs encourage the long-term strength, resilience, and profitability of Australian farm businesses. The RIC was established under the Regional Investment Corporation Act 2018 (RIC Act) with their head office was established in Orange NSW in January 2019. Their key function is to administer farm business loans to strengthen Australian agriculture.

Finacle is an industry leader in digital banking solutions. We are a unit of EdgeVerve Systems, a wholly-owned product subsidiary of Infosys (NSE, BSE, NYSE: INFY). We partner with emerging and established financial institutions to help inspire better banking. Our cloud-native solution suite and SaaS services help banks engage, innovate, operate, and transform better to scale digital transformation with confidence. Finacle solutions address the core banking, lending, digital engagement, payments, cash management, wealth management, treasury, analytics, AI, and blockchain requirements of financial institutions. Today, banks in over 100 countries rely on Finacle to help more than a billion people and millions of businesses to save, pay, borrow, and invest better. For more information, visit www.finacle.com.

LTIMindtree Launches Hybrid Cloud Management Platform; Canvas CloudXperienz

LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, has announced the launch of its SaaS based hybrid cloud management platform Canvas CloudXperienz. The platform, powered by Artificial Intelligence for IT Operations (AIOPs), helps enterprises explore the full potential of digital transformation initiatives across their cloud management spectrum and redefine the way businesses manage and optimize their hybrid cloud infrastructure and applications; while providing unparalleled efficiency, security, and scalability.

Cloud-based platforms serve as the backbone of Digital Transformation leading to service integrators increasingly adopting them to improve user experience, business observability and time to market.

“In an era where technology is a driving force for change, LTIMindtree’s Canvas CloudXperienz stands as a testament to our ability to adapt, evolve, and lead. Its groundbreaking features and capabilities will undoubtedly set new industry standards and redefine the way our customers experience innovation,” said Nachiket Deshpande, COO and Whole-time Director, LTIMindtree.

The LTIMindtree Canvas CloudXperienz platform provides a 360-degree observability of the business and IT environment which helps users measure the performance trends, peak and off-peak business requirements, benchmark enterprise applications, infrastructure, and cloud resources optimally. This leads to increased efficiency with 40-70% automation of services and freeing up their employees’ time for other strategic tasks.

Canvas CloudXperienz, an ISO 270001 certified platform, has a holistic business centric approach to manage the traditional on-premise infrastructure and applications as well as the cloud based workloads and applications. It aims to increase productivity by up to 75% and provide a plug and play option to the existing tools with select modules to achieve greater flexibility. The platform also provides simplified and enriched user experience, enables quicker cloud adoption, generate actionable insights for business operations and provide complete visibility and control of the cloud costs by finding significant resource optimization opportunities.

Financial Operations (FinOps) is an integral feature of the Canvas CloudXperienz platform and by integrating with LTIMindtree Infinity, it brings in seamless correlation of cloud performance and contracts data to optimize cloud spending and drive business value. The FinOps solutions is designed to provide cost visibility analysis, spend analytics, resource allocation and optimization recommendations, chargeback recommendations and help customers plan for major transformation and modernization initiatives and manage and optimize their cloud costs effectively.

The hybrid cloud management platform, Canvas CloudXperienz, has been built by LTIMindtree with contributions from key partners ScienceLogic, ServiceNow, and Delinea. With the Canvas CloudXperienz platform, LTIMindtree aims to improve the business outcomes and agility of the customers and empower them in making more environmentally conscious choices.

For more information about the Canvas CloudXperienz platform and its features, please visit here.

Infosys and Better Launch An AI-driven Digital Mortgage White-Labelled Platform for Banks & Credit Unions

Infosys and Better collaborate to offer Mortgage as a Service

An integrated technology & operations white-labelled AI-driven platform to help banks and credit unions provide their customers seamless digital mortgage and home equity loan experiences

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a collaboration with Better Home & Finance Holding Company (NASDAQ:BETR, BETRW), a leading digital-first homeownership company, to launch Mortgage as a Service (MaaS), an integrated end-to-end digital mortgage white-labelled platform.

By adopting Infosys-Better white-labelled MaaS, organizations can revolutionize their mortgage operations. Better’s proprietary digital technology is an end-to-end platform including point of sale, pricing, underwriting, loan origination, closing, funding and investor sale - built to be cloud-native. Better has already funded over $100 billion in fully digital loans for the industry, and their status as an industry leader is reflected in their client Ally’s ranking as the #1 Digital Mortgage Platform by J.D. Power. Infosys is one of the world’s largest digital service providers to mortgage firms helping them to strengthen their technology and operations. With its digital-first, cloud-first and AI-first approach, Infosys is best equipped to help its clients to reap the advantages of Mortgage as a Service faster.

“Our strategic collaboration with Better helps us deliver best-in-class digital mortgage services to our customers in a highly innovative, scalable and cost-efficient manner,” said Glenn Brunker, Head of Ally Home, a top-rated national digital lender who has collaborated with Better since 2019. “Leveraging Better’s digital platform has also helped us limit operational volatility as the mortgage industry continues to evolve in the current interest rate environment.”

Henry Cason, CEO, Finlocker, said, “Infosys has deep expertise in the mortgage process and delivering large and complex programs for us while reducing transformation risks. This Mortgage as a Service solution, along with Infosys’ expertise, has the potential to help firms embrace a more efficient digital and automated approach to running business operations.”

Dennis Gada, EVP and Global Head – Financial Services, Infosys, said, “Infosys is a global leader in lending and mortgages. Through our AI-driven operations, we help clients originate loans at significantly lower costs than the industry average. Infosys and Better offer Mortgage as a Service that will allow us to bring to our clients integrated operations and technology with significant productivity benefits.”

Vishal Garg, CEO & Founder, Better, said, “In a market saturated with legacy products that inhibit digital transformation and lead to great inefficiencies and high costs, Infosys and Better offer increased multi-fold mortgage originations at unprecedented speed.”

About Better

Since 2017, Better has leveraged its industry-leading technology platform, Tinman™, to fund more than $100 billion in mortgage volume. Tinman™ allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates and close their loan in as little as three weeks. Better’s mortgage offerings include GSE-conforming mortgage loans, FHA and VA loans, and jumbo mortgage loans.

Better launched its “One-Day Mortgage” program in January 2023, which allows eligible customers to “go from click to Commitment Letter” all within 24 hours. From 2019-2022, Better completed approximately $98 billion in mortgage volume and $39 billion in coverage written through its insurance arm, Better Cover. Better was named Best Online Mortgage Lender by Forbes and Best Mortgage Lender for Affordability by WSJ in 2023, and ranked #1 on LinkedIn’s Top Startups List for 2021 and 2020, #1 on Fortune’s Best Small and Medium Workplaces in New York, #15 on CNBC’s Disruptor 50 2020 list, and was listed on Forbes FinTech 50 for 2020. Better serves customers in all 50 US states and the United Kingdom.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Audit SaaS Startup AuditCue Emerges from Stealth Mode; Raises $1.5 Mn in Seed Round Led By Kalaari Capital

• Round also saw participation from Java Capital & SF based angels
• Funds raised will be used for building the product and expanding the GTM & Engineering team
• Aims to expand in primary geographic markets of North America, India & EU
• AuditCue is a SaaS product that reimagines how risks, controls & audits work together. It removes friction from audits and empowers auditors & auditees through the entire lifecycle of risk & audit programs

Chennai-based AuditCue, an audit & risk SaaS startup, has raised $1.5 Million in a seed funding round led by Kalaari Capital. Other investors who participated include Java Capital and angel investors from San Francisco. The capital infusion will be allocated towards product development, accelerating the go-to-market strategy, and growing the engineering team

Founded in 2022 by Gaurav Kulkarni and Naren Janakiraman, AuditCue calibrates, guides and streamlines all actions that are a part of an audit lifecycle. AuditCue transforms the risk & audit experience for auditors & auditees both. The startup elevates customers’ audit & risk programs, speeds up audit cycles and improves process resiliency without compromising on agility. The elegant, simple & intuitive UX paired with its flexible and modular platform is what sets AuditCue apart from legacy solutions and market incumbents.

Gaurav Kulkarni, Co-founder & CEO, Auditcue says, “AuditCue is built for CISOs in regulated markets who keep pace with multiple compliance regimes. Unlike legacy solutions or automation products, AuditCue removes friction from audits and empowers auditors & auditees through the entire lifecycle of risk & audit programs. We are transforming the risk & audit experience for our customers to make audits seamless. With this funding round, we aim to expand further into our primary geographic markets of North America, India & EU.”

Vani Kola, Founder & Managing Director, Kalaari Capital, says “The $120B global audit and GRC market is ripe for disruption with new-age tools. The founding team brings complementary skills and we are excited to back their vision.”

AuditCue has been in stealth mode until now, working with industry experts & advisors to reimagine how risks, audits & controls work together. With this round, the company is gearing up to open up access to their solution for companies that are looking for a better way to manage risks & compliance.

Companies understand the importance of a risk & audit program but most still struggle to find the right solution to implement. Legacy solutions add more complexity to processes instead of simplifying them for companies, whereas other incumbents try a one-size-fits-all approach. But companies need a tailored approach to risk and a solution flexible enough to address their unique challenges and needs, and that’s what AuditCue is building.

About AuditCue

AuditCue’s mission is to transform the risk & audit experience for auditors & auditees both. Our SaaS solution elevates our customers’ audit & risk programs, speeds up audit cycles and improves process resiliency without compromises on agility. The elegant, simple & intuitive UX paired with its flexible and modular platform is what sets AuditCue apart from legacy solutions and market incumbents. For more details about AuditCue and our transformative GRC platform, please visit www.auditcue.com.

SaaS-based Logistics Provider ShipEase Raises $1 Mn in Pre-Series A, Round Led By Inflection Point Ventures

(L-R) Ajay K (MD & CTO) , Pawan Kumar (CEO) , Lalit Singh (CRO) — Shipease

• ShipEase is a SAAS based logistics provider helping D2C brands and SME e-tailers in making their supply chain efficient.
• The funds raised will be utilized in team expansion, tech improvisation, new product development, Marketing and Brand building.
• Inflection Point Ventures (IPV) has so far invested over INR 600 Cr across 190+ deals.

ShipEase, India's most efficient logistics company has raised $1 M in a Pre-Series A Round led by Inflection Point Ventures. The funds raised will be utilized in expanding the team, improving the technology, developing new efficient products and brand building.

ShipEase is a SAAS based logistics provider helping D2C brands and SME e-tailers to make their supply chain efficient. The company offers the best-in-class automated shipping services and seamlessly ships to 28000+ pincodes with smart courier allocation.

ShipEase was founded by a trio of accomplished professionals. Pawan Kumar, the CEO, brings expertise from Xpressbees, Ecom Express, and Delhivery Ltd. Lalit Singh, the CRO, has worked at well reputed companies like FedEx, Delhivery, and Reliance Industries. Ajay K, MD & CTO comes with tech experience working with RBS, Iris Inc, and Aricent. Their collective experience in logistics, e-commerce, and technology drives Shipease's mission to innovate the shipping industry.

Vikram Ramasubramanian, Partner, Inflection Point Ventures, says, “Logistics play a pivotal role specially for D2C brands as managing supply chain is one of the biggest cost heads. For new and emerging brands, to build their own supply chain pan India, is a multi-crore commitment. However, ShipEase’s platform and their tech approach can help brands reach their customers faster while keeping logistics costs low.”

While timely and safe goods movement for high value products is a high priority for companies, what makes the shipments more secure is tech solution features including tracking the products, NDR Management and so on. ShipEase has successfully designed a technology-enabled logistics solution which provides end-to-end automation for varied delivery requirements. ShipEase with a domain expert founding team, cost-effective methods and robust technology positions the company as one of the most preferred partners for brands and SMEs.

Pawan Kumar, Founder, ShipEase, says, “We would like to project ourselves as tech savvy organization for D2C community and offline brands right from managing the production, inventory control, supply chain followed by logistics. It has been a phenomenal experience so far with IPV for putting faith in us and believing in our team & vision.”

ShipEase is serving a wide seller base of 2000+ clients with the business quantum of 3.5 Lakhs+ shipments per month. Also, the company operates on a double-digit positive EBITDA as per Jul’23 trends. The company has accomplished this exceptional growth with a very lean team size and in a very short span of time.

The Supply Chain Management Market was valued at approximately US$ 26.8 billion in 2022. It is anticipated to achieve a valuation of around US$ 62.20 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.1% from 2023 to 2030.

About ShipEase

Founded in 2020 by Pawan Kumar, Ajay K, and Lalit Singh, the SAAS-based logistics provider stands as a pivotal solution in the realm of Direct-to-Consumer (D2C) brands and Small and Medium-sized Enterprise (SME) e-tailers. With a clear mission, this innovative platform aims to optimize and streamline supply chains, propelling operational efficiency for businesses operating in the digital landscape. By harnessing the power of software-as-a-service (SAAS), the company empowers D2C brands and SME e-tailers to navigate the complexities of modern logistics with ease. With an intimate understanding of the unique challenges these businesses face, the platform stands as a dynamic enabler of growth, facilitating smoother processes and driving a more seamless connection between these enterprises and their customers.

About Inflection Point Ventures & Physis Capital

Inflection Point Ventures (IPV) is an angel investing platform with over 8600 CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups.

Debt Collection SaaS Platform Credgenics Raises $50 Mn in Funding Led by Westbridge Capital and Accel

Credgenics co-founders (L-R) — Anand Agrawal, Mayank Khera, and Rishabh Goel / Photo credit: Credgenics

Credgenics, the leading provider of SaaS-based debt collections platform, is raising $50 million in a series B funding round led by existing investors Westbridge Capital and Accel. Other investors participated in this round included Tanglin Ventures and Beams Fintech Fund, along with other strategic investors.

The latest round of funding has tripled Credgenics' valuation to $340 million.

The SaaS platform intends to use the freshly raised capital to expand to Southeast Asian countries including Vietnam and Indonesia that share characteristics such as penetration with India’s credit market, Chief Executive Officer Rishabh Goel told Bloomberg News.

Earlier in August 2021, Credegenics raised $25 million in Series A round of funding led by Westbridge Capital, Tanglin Venture Partners and Accel Partners. Prior to that, it raised $3.3 million from Accel India and Titan Capital, in October 2020, and a seed funding of $300K from Titan Capital, in November 2019.

Founded in 2019 by Rishabh Goel, Anand Agrawal and Mayank Khera, Credgenics is the leading provider of Loan Collections and Debt Resolution technology platform to Banks, Non-banking finance companies, FinTechs, and ARCs worldwide. The AI-powered SaaS-based platform has been recognized as the #1 Best Selling Loan Collections Platform in India by IBS Intelligence in their Annual Sales League Table 2022.

Credgenics works with 80+ customers and handles USD$2bn NPA stage retail loan book value, USD$6bn delinquent stage retail loan book value. It manages 22 million retail loans and sends 60 million digital communications every month. With Credgenics, lenders have increased resolution rates by 20%, improved collections by 25%, reduced collections cost by 40%, reduced collections time by 30%, and improved legal efficiencies by 60%.