VuNet Systems, a provider of artificial intelligence services, has raised $5 million in a Series A round of funding headed by Mela Ventures and Athera Venture Partners (formerly Inventus India). TVS Capital Funds and Dallas Venture Capital also took part in the round.
According to a statement, the company will focus on expanding its customer and existing product base.
With almost 20 years of combined deeptech space experience, Ashwin Ramachandran, Bharat Joshi, and Jithesh Kaveetil co-founded VuNet Systems.
“The startup will continue to focus on expanding its customer growth and its product base to create more intelligent, actionable insights for operations, business, and CXOs to accelerate the digital transformation,” said Ashwin Ramachandran, Co-founder, and CEO of VuNet Systems.
To the tune of 9 billion transactions per month, many significant financial institutions use the platform to offer real-time visibility into financial transaction journeys, including rapid payments, lending, etc.
“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,” said Krishnakumar Natarajan, Managing Partner at Mela Ventures.