AI-based VuNet raises $5 M in Series A round led by Mela Ventures and Athera Venture Partners
Summary
Artificial intelligence services company VuNet Systems has raised $5 million in a Series A funding round led by Mela Ventures and Athera Venture Partners (formerly Inventus India). Dallas Venture Capital and TVS Capital Funds also participated in the round.The company will focus on expanding customer growth and its existing product base, it said in a statement.VuNet Systems, co-founded by Ashwin Ramachandran, Bharat Joshi, and Jithesh Kaveetil, who have nearly 20 years of experience in the deeptech space.Today, several large financial institutions use the platform to provide real-time visibility into financial transaction journeys such as instant payments, lending etc., to the tune of 9 billion transactions per month.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. VuNets AI-based observability platform provides that missing intelligence for businesses," said Krishnakumar Natarajan, Managing Partner at Mela Ventures.