Actyv.ai, a Singapore and Bengaluru-based artificial intelligence-powered enterprise software-as-a-service platform, secured an additional $7 million in new funding, bringing its pre-Series A total to $12 million.
The round comprised two tranches. In the first round, the company raised $5 million (around Rs 40 crore) from 1Digi Investment management firm in February last year.
The fresh funding was from 1Digi Ventures, the family office of Raghunath Subramanian, global chief executive at Actyv.ai.
Actyv.ai will deploy the fresh proceeds for hiring, product development and to expand globally.
“Our AI-powered SaaS platform, with its embedded offerings drives operational efficiencies and growth to the entire supply chain ecosystem. This additional infusion of funds validates our being category creators in this space and the conviction to augment our platform’s capabilities,” said Raghunath Subramanian, founder, and CEO of actyv.ai.
Company: Autolytics Technology Private Limited
Raised: $7.0M
Round: pre-Series A
Funding Month: January 2023
Lead Investors: 1Digi Ventures
Additional Investors:
Company Website: https://www.actyv.ai/
Software Category: Payment Platform
About the Company: Founded in 2019 by Raghunath Subramanian, Raghu Venkat, and Ramkumar Thirumurthi, Actyv.ai is an artificial intelligence (AI)-powered enterprise software-as-a-service (SaaS) platform with buy-now-pay-later (BNPL) for B2B embedded. It is used by large enterprises to transform their supply chains and empower their partners with an intuitive platform and financial products. Its scoring enables financial institutions to provide unsecured, low-interest, closed-loop credit (BNPL for B2B) for SMBs. Its mission is to transform the global B2B supply chain by making business transactions faster and easier through AI.
Source: https://www.vccircle.com/actyvai-marks-final-close-of-pre-series-a-round-at-12-mn