DVC invests in Series A Funding Round of AI Observability platform, VuNet
Hyderabad, Nov 17th, 2022 – Dallas Venture Capital (DVC) invests in VuNet, a provider of AI-based Business Journey Observability. VuNet raises $5 million in a series A funding round led by Mela Ventures and Athera Venture Partners, with participation from TVS Capital Funds. The funding will be utilised to accelerate the research and development and the expansion of global operations.
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 $55 billion, 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.”
“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 at 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.
About Dallas Venture Capital
DVC is a Dallas TX, US and Hyderabad, India based venture capital firm investing in cloud infrastructure, B2B SaaS, AI/ML, mobile, XR and other emerging technologies. In addition to providing capital and financing needs, our investment philosophy centers around guiding business development, product, and technology strategy for our portfolio companies through the ‘DVC Advantage’ program to achieve successful outcomes. Operating from both the US and India, DVC creates a bridge that connects two of the largest start-up ecosystems in the world. DVC is co-founded by Dayakar Puskoor, a pioneering Dallas based venture capitalist with a record of investments in 25+ companies and 9 exits to date, and Abidali Neemuchwala, the former CEO of Wipro Ltd.
Dallas Venture Capital (DVC) is a Dallas/Irving, Texas based venture capital company with a focus on investing in early-stage enterprise B2B software companies and ambitious entrepreneurs looking to partner with investors who have been in their shoes through hands-on support in the areas of product and market development. DVC was founded by Dayakar Puskoor, a pioneering Dallas-based venture capitalist with a record of investments in twenty-five companies and seven exits to date. Some examples of DVC’s investments include: Citylitics, Disprz, Lucy.ai, Rollick, plnar, CoreStack, Viviota, AmplifAI, Kore.ai, HyperVerge, Glympse, and Altia Systems. DVC has offices in Dallas, USA & Hyderabad, India.