Software-as-a-service (SaaS) startup Nected has secured $1.5 million in seed funding, led by Binny Bansal’s venture fund, Three State Ventures. Other participants in the round included Endurance Capital, Relentless VC, Climber Capital, Lykke Capital, and Forward Slash Capital.
Additionally, over 15 founders and CXOs joined the round. Notable participants included Nitin Gupta from PayU, Pallav Pandey from Uolo and Knowlarity, Archit Gupta from Clear, Tonmoy Shingal from Mettl, Ravi Bhushan from BrightChamps, Akshay Saxena from Avanti Fellows, Puneet Kumar from Supr Daily (acquired by Swiggy), and Prashant Kumar from Unbxd.
The new funds will enhance Nected’s product usability, simplify integration with various technologies, and expand operations to meet increasing international demands, according to the company’s statement on Wednesday.
“Our platform fosters collaboration between technical and non-technical teams, enabling them to achieve their goals faster. This innovative approach breaks down barriers and allows businesses to unlock the full potential of their data and technology to drive impactful results,”said Prabhat Gupta, cofounder of Nected.
Founded in 2022, Nected offers a low-code, no-code platform with pre-built tech components. This platform enables companies to build complex applications quickly. By providing ready-made components, Nected helps businesses avoid inefficiencies and delays associated with traditional software development.
Currently, over 20 customers across five countries use the platform, including online pharmacy Tata 1mg.
Despite a global developer pool of over 100 million, companies still face tech shortages and pressures to innovate quickly and cost-effectively, the company noted.
Three State Ventures, Bansal’s investment vehicle, is funded through his personal capital. Bansal’s significant investments include Curefoods, PhonePe, and Acko.
