VuNet, an analytics company, raised $5 million in Series A funding round led by Mela Ventures and Athera Venture Partners (formerly Inventus India).
The round saw participation from Dallas Venture Capital and TVS Capital Funds. The funding 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, said the company.
VuNet Systems is co-founded by Ashwin Ramachandran, Bharat Joshi, and Jithesh Kaveetil, with over 20 years of experience in creating deep-tech enterprise products for global markets.
Ashwin Ramachandran, Co-founder and CEO, 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.”
VuNet’s flagship product is next generation full-stack observability solution built using big data and machine learning in innovative ways to monitor business journeys and improve the payment experience of users. Using a business-centric AI approach, the platform aims to help banks, payment gateways, and financial institutions to improve their digital payments workflow and deliver a superior customer experience.
Krishnakumar Natarajan, Managing Partner, Mela Ventures, said, “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.”