VuNet raises $5 Million in Series A Funding led by Mela Ventures and Athera Venture Partners (formerly Inventus India)
VuNet Systems, a leading provider of AI-based Business Journey Observability, announced a $5 million Series A funding led by Mela Ventures and Athera Venture Partners (formerly Inventus India), with participation from Dallas Venture Capital and TVS Capital Funds. Payment failures cost the global economy over $100 Billion, causing significant inefficiencies and affecting customer loyalty and financial inclusion across the ecosystem. With an opportunity size of 55B$, 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.
VuNet Systems is co-founded by Ashwin Ramachandran, Bharat Joshi, and Jithesh Kaveetil, with more than 20+ years of extensive experience in creating deep tech enterprise products for global markets.
VuNet’s unified observability platform signals a radical shift in monitoring complex application systems at scale as enterprises move towards complex workloads, cloud, microservices, and more API interconnects. 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.
Ashwin Ramachandran, Co-founder and CEO 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.”.
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. The leadership team has great vision and goals to be the category leader.”
“In today’s hyper-inter-connected world, real-time observability is key to ensuring smooth transactions. VuNet has the unique ability to stitch together siloed views and present business journeys in a unified view for end-user context. The technology solidity of VuNet’s team, their strong domain expertise, and marquee customers is what excited us about the value creation opportunity here”, said Samir Kumar, GP at Athera Venture Partners (formerly Inventus India)
“We are excited by the opportunity to bring DVC Advantage to play a transformative role in VuNet’s growth strategy, which is centered around revenue acceleration from expansion in Asian and the US markets,” said Gokul Dixit, Venture Partner, DVC VuNet has won several accolades, including being listed in Gartner Market Guide for AI-driven IT Operations platform, being named as an HFS Hot Vendor, Leader in AIOps Data Quadrant by SoftwareReviews, NASSCOM AI Gamechanger’s Award and part of Microsoft ScaleUp for Startups and CISCO Launchpad.