The startup will deploy the raised funds towards enhancing its product offering to create industry-grade solutions.
Arvind Agarwal, CEO of Zapty said, “Traditional workflow solutions make it increasingly difficult to adapt to ever-changing business needs. Ultimately, the business ends up adapting to the tool, rather than the tool adapting to the business. Ideaspring’s deep technology expertise will help us increase our pace of innovation, and leverage their network to better understand the market and improve adoption.”
Initially bootstrapped, Zapty was founded in 2014 by serial entrepreneurs Arvind Agarwal, Sanjay Shah, and Manav Garg. Zapty offers a SaaS-driven, cloud-based solution for the B2B space. It allows real-time collaboration and micro-workflow management, it enables businesses to collaborate, discover, manage and eventually automate processes using AI techniques.
Zapty currently has offices in Bengaluru and San Francisco.
Commenting on the investment, Naganand Doraswamy, Managing Partner at IdeaSpring Capital said, “Zapty offers a compelling and efficient customer experience delivered with cloud-scale cost and flexibility. We are excited to be part of Zapty’s next level of growth and believe their vision and their background in workflow automation will put them at the forefront of an impending evolution into the next generation of SaaS.”
This is Ideaspring’s fourth investment this year. Ideaspring Capital was founded in 2016 and is an an early-stage venture fund focussed on investing in product innovation startups in India. TV Mohandas Pai, Patni scions Arihant Patni and Amit Patni, angel investors Naganand Doraswamy, and Prashant Desphande joined hands with Sasken Technologies’ CMD Rajiv Mody to launch this $18.7 Mn (INR 125 Cr) fund.
In March 2017, it invested $494K in Chennai-based tech startup, Karomi Technology. Following that, it invested $600K in Lavelle Networks, a startup in the SDN (Software Defined Networking) space, in the same month. Earlier last month, Bengaluru-based augmented reality startup Whodat secured $600K in its latest round of funding from Ideaspring Capital.
In April 2017, Delhi-based Squad raised $2.1 Mn funding from India and Valley-based investors, including Blume Ventures, Contrarian Capital, 91springboard, Emergent Ventures, Abstract Ventures, Anthill Ventures, and Axilor Ventures. Other startups in this segment include OneSpace, TaskRabbit, Twentify, etc.
Source: Inc42