Opinions expressed by Entrepreneur contributors are their very own.
You are studying Entrepreneur India, a global franchise of Entrepreneur Media.
Industrial companies SaaS market Venwiz has raised $8.3 million in Sequence A funding spherical led by Sorin Investments with participation from earlier buyers, Accel & Nexus Enterprise Companions. JAFCO Asia, Riverwalk Holdings and Pressure Ventures have additionally participated on this spherical, with angels like Sanjeev Rangrass (ex-CEO ITC Agri Enterprise), Anshuman Sinha (accomplice, AT Kearney), Prabhav Kashyap (accomplice, Bain & Co) and others. The corporate has earlier raised $3 million in Seed funding, bringing the whole capital raised to $11.3 million. The fund raised can be used for product enhancement and group enlargement.
“Venwiz was conceived with the imaginative and prescient of streamlining the capex lifecycle of a producing firm, in an finish to finish manner- be it vendor discovery, service procurement or job execution. It’s a advanced drawback assertion to resolve, however the features to our shoppers by way of time & value financial savings are immense,” mentioned Rajesh Reddy, co-founder and CEO of Venwiz.
Venwiz has to this point onboarded greater than 10,000 distributors on its platform throughout extra 40 service classes, servicing the entire of India.. The corporate has contracts with marquee corporations like Nestle, TVS, ITC, Tata Espresso, Kohler Energy and plenty of others, and plans to deepen the shopper engagements after this spherical of funding. The corporate can also be engaged on many pilots from a long-term perspective to boost the vendor-side choices and improve shopper platform expertise, claimed by the corporate in an announcement.
“Venwiz is addressing an enormous white house within the manufacturing phase of various industries – procurement of commercial companies for capex and MRO wants. On the again of their very own skilled expertise, the founding group understands the ache factors very properly and have the insights to resolve the issue by means of tech in an finish to finish style.The sturdy adoption of the Venwiz platform from enterprise shoppers and distributors demonstrates the necessity for such an answer,” mentioned Mandar Dandekar, accomplice at Sorin Investments.
Based by Rajesh Reddy and Sandesh Paturi, Venwiz is a SaaS-enabled market, digitising capex and industrial companies procurement, specializing in the manufacturing business.
