VuNet Raises $5 Million In Series A Funding The fund raised 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
By Teena Jose
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VuNet Systems, a leading provider of AI-based business journey observability, has raised $5 million in Series A funding round led by Mela Ventures and Athera Venture Partners (formerly Inventus India), along with the participation from Dallas Venture Capital and TVS Capital Funds. The fund raised 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 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," said Ashwin Ramachandran, co-founder and CEO, VuNet Systems.
Using a unique business-centric AI approach, the platform is helping the largest banks, payment gateways and financial institutions to improve their digital payments workflow and deliver a superior customer experience. 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 over 9 billion transactions per month, claimed by the company in a statement.
"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," said Krishnakumar Natarajan, managing partner at Mela Ventures.
Founded by Ashwin Ramachandran, Bharat Joshi, and Jithesh Kaveetil, 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.
