In a bid to strengthen startups in the country, Fifteen India-based SaaS firms have raised a total sum of $750,000 in a pre-series A round led by Y Combinator. The startup is part of the Winter 2022 batch of the accelerator.
Fieldproxy, a software-as-a-service platform that helps businesses manage their field teams more effectively champions the new round of funding. With the new US$750,000 round raised, Fieldproxy pushes its total funds raised to over US$1 million.
Other 14th participants in the round include: Mars Shot Ventures, Kevin Moore, president, KRM Interests, Abheek Basu, CEO, Tachyon, LetsVenture, 2 am VC, Magic Fund, KRS Jamwal, executive director, Tata Industries, Ajit Deshpande, former vice president of demand generation, Marqeta, Kushal Khandwala, director, KIFS Housing Finance Limited, Asad Daud, director, SAT Industries, Nilesh Patel, principal, Cisco Systems, Ketan Kothari, managing director, Sigma Byte, and Shreya Rao, partner, AZB & Partners.
Number Capital, a venture capital firm founded by Fazz Financial Group CEO Hendra Kwik, also took part in the latest round. With this, Number Capital has made its first investment in India.
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Swaroop Vijayakumar and Balakrishna Balasubramanian founded Fieldproxy in 2020. The company provides a web-based no-code builder that helps businesses streamline and simplify internal interactions with their field teams. These groups work in a variety of industries, including field services, consumer goods, pharmaceuticals, energy, and telecommunications.
According to the investors, the new funds will be used primarily to expand the company’s go-to-market (GTM) initiatives and also used to build cutting-edge solutions in minutes.
In his words, Vijayakumar, one of the Fieldproxy founders, said: “As we ramp up our GTM efforts, Fieldproxy is not only aiming to cater to more enterprise customers but also working to scale our ready-made templates library to help businesses get onboarded and build cutting-edge solutions within minutes.”
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