VuNet Pockets INR 60 Cr To Help Enterprises Streamline Digital Transactions

AI-based business journey observability provider VuNet Systems has raised INR 60 Cr (around $6.94 Mn)  in the first close of its Series B funding round led by Pravega Ventures.

The round also saw participation from Kotak securities, along with a host of existing investors, including Mela Ventures, Athera Venture Partners, Dallas Venture Capital and TVS Capital Funds.

The company plans to use the fresh proceeds for global expansion and accelerate its growth in India. 

Alongside it will also improve the product stack and enhance sales and marketing.

Founded in 2014 by Ashwin Ramachandran, Bharat Joshi and Jithesh Kaveetil, VuNet helps financial institutions monitor and optimise their information technology operations and customer journeys. Its platform provides real-time insights by analysing data from various systems, enabling enterprises to streamline critical processes like digital transactions and deliver end-to-end visibility across complex IT ecosystems, enhancing both operational performance and customer experience.

“This funding milestone marks an exciting step forward as we expand globally and pioneer a new category of business journey observability. By further integrating advanced AI, including GenAI, across all workflows of our platform”, said Ramachandran.

The funding comes at a time when AI has taken the world, including India, by storm. AI adoption is on the rise and this has resulted in the emergence of a number of AI-focussed platforms in the country. Not just this, these startups are also witnessing a lot of investor interest.

For instance last week, Bengaluru-based Quash raised $635K in its pre-seed funding round led by Arali Ventures.

Similarly in October 2024, Febi.ai raised $2 Mn from Lumis Partners, former JP Morgan executive Virender Rana, and Lenskart cofounder Amit Chaudhary.

In September 2024, Jhana.ai also raised $1.6 Mn in its ongoing maiden funding round. 

According to an Inc42 report, more than 100 GenAI startups call India their home. These startups have cumulatively raised more than $600 Mn since 2019. Overall, the homegrown GenAI market is expected to see a major boom in the coming years and is projected to cross the $17 Bn mark by 2030.

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