Venwiz raises $8.3 mn in Series A funding led by Sorin Investments
Summary
Bengaluru, Feb 15: Venwiz, a SaaS-enabled marketplace in the Capex and MRO (Maintenance, Repair and Operations) services domain, has raised $8.3 million in Series A round of funding led by Sorin Investments along with participation from Accel, Nexus Venture Partners. Buyers on the demand side are large enterprise clients with manufacturing plants, having industrial services requirements. On the supply side, the companies that offer these industrial services are MSMEs, with specialised scope of projects e.g., mechanical, civil, automation, turnkey jobs. On the back of their own professional experience, the founding team understands the pain points very well and have the insights to solve the problem through tech in an end to end fashion.The strong adoption of the Venwiz platform from enterprise clients and vendors demonstrates the need for such a solution, said Mandar Dandekar, Partner at Sorin Investments.Venwiz is founded by Rajesh Reddy and Sandesh Paturi, who met at ITC Ltd and have spent a large part of their career running operations and projects. It has contracts with companies like Nestle, TVS, ITC, Tata Coffee, Kohler Power and plans to deepen the client engagements after this round of funding.Talking about the future roadmap, Sandesh Paturi, co-founder and CBO of Venwiz said, We have built modular tools that can assist across the entire lifecycle of capex projects.
Funding
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