VuNet Systems, an AI-first business journey observability platform, 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 funding round.
As per the startup, the raised funds will be used to accelerate the research and development of new AI/ML led product offerings and the expansion of global operations across India, Asia and the US.
VuNet Systems | AI-first Business Journey Observability Platform
Founded by Ashwin Ramachandran, Bharat Joshi, and Jithesh Kaveetil, VuNet Systems is a next-gen visibility and analytics firm accelerating digital transformation by providing deep observability into business journeys.
VuNet, using vuSmartMaps, seamlessly connects business, IT operations and customer experience at scale to deliver unified visibility of business journeys.
Speaking about the development, Ashwin Ramachandran, Co-founder and chief executive officer of VuNet Systems, said,
“VuNet is excited to count some of the most well-known names in the financial institutions among our customers. We will continue to focus on expanding our customer growth and our product base to create more intelligent, actionable insights for operations, business and CXOs to accelerate their digital transformation.”
The analytics firm is helping the largest banks, payment gateways and financial institutions to improve their digital payments workflow and deliver a superior customer experience.
As per VuNet, several large financial institutions use the platform to provide real-time visibility into financial transaction journeys such as lending, instant payments, etc., to the tune of over 9 billion transactions per month.
Commenting on the development, Krishnakumar Natarajan, managing partner at Mela Ventures, said,
“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. VuNet’s AI-based observability platform provides that missing intelligence for businesses. The fact that leading financial institutions trust VuNet is proof of its growing importance and potential. We are excited to partner with VuNet as the leadership team has great vision and goals to be the category leader.”
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