ToolJet, a Bengaluru, India-based open-source low-code software for building internal tools, raised $1.5 million in seed funding.
The round was led by Nexus Venture Partners, with participation from Ratio Ventures, Better Capital, and Alan Rutledge.
Other investors in the round include enterprise founders, operators, and investors, including Rohan Murty (founder of Soroco), Sony Joy (head of an enterprise at Truecaller), Vipul Amler (founder of Saeloun), Mohammed Hisamuddin (founder of Entri), and Abhi Kumar of M12 Ventures.
The funds will be used for team expansion to accelerate the development of the core platform of ToolJet.
“Companies are under pressure to do more with what they have. Open-source low-code tools enable developers to deliver what the business needs quickly and securely with enough flexibility to customize and extend,” said ToolJet Founder and CEO Navaneeth PK.
The company's technology enables companies to build their internal tools with minimum engineering effort.
ToolJet currently has integrations with more than 15 data sources, such as MongoDB, PostgreSQL, Google Sheets, and AWS S3.
Since it was made public in June 2021, ToolJet’s GitHub repository got contributions from more than 100 contributors from more than a dozen countries.
Company: ToolJet Solutions, Inc
Raised: $1.5M
Round: Seed Round
Funding Month: January 2023
Lead Investors: Nexus Venture Partners
Additional Investors: Ratio ventures, Better capital, Alan Rutledge, Rohan Murty, Sony Joy, Vipul Amler, Mohammed Hisamuddin, and Abhi Kumar
Company Website: https://www.tooljet.com/
Software Category: Open-Source Low-Code Framework
About the Company: Founded in April 2021 by Navaneeth PK, ToolJet is an open-source low-code framework used to build and deploy custom internal tools. Its platform builds internal tools in minutes using pre-built components and can connect to databases, services, cloud storage, and custom API endpoints to fetch data and take action. The company's mission is to help companies build their business applications with minimal engineering effort. Since it was made public in June 2021, ToolJet’s GitHub repository got contributions from more than 100 contributors from more than a dozen countries.
Source: https://www.business-standard.com/article/companies/tooljet-raises-1-5-mn-in-seed-funding-round-led-by-nexus-venture-partners-122011200428_1.html