Collatree raises pre-series A funding from Saudi Arabian companies
- ByStartupStory | November 19, 2022
Business leaders in Saudi Arabia have contributed an unknown sum to pre-series A funding for Collatree, a multinational provider of software services with headquarters in Kerala’s Kozhikode. According to a corporate spokeswoman, this will allow the company to establish itself more in Saudi Arabia. In an effort to overcome the Covid-19 blues, Collatree earlier made headlines by announcing the merging of seven start-ups with various entrepreneurial backgrounds. Manu Ganga, co-founder and chief growth advisor, has detailed how the combined company had brought Kerala’s avant-garde “Thrasio” concept.
A start-up works with or acquires peers in a particular vertical and shares knowledge and resources to run them most effectively under the Thrasio model, which was named after an eponymous US unicorn. At Collatree, we pool our resources and draw on one another’s expertise to provide clients with the best value possible, according to Ganga. Collatree wants to curate the offerings to help businesses save time and money by transforming businesses using the best-in-class solutions. According to the spokesperson, Collatree has sold more than $1 million since the seven joined forces.
The seven start-ups that formed Collatree: Networth Software Solutions (software and web development, founded by Kavita Nair; Glaube Technologies (logistics, Faeez Musthaq); Growth Associates (digital marketing and growth, Akshay V and Manu Ganga); Zinfog (software and web development, Vivek Madhavan and Abdul Basith); Capio (brand marketing, Rifath Rahman); Armino Technologies (IoT and software development, Sooraj Narayanan); and Odox (Odoo open source ERP services, Muhammed Niyas Pavil and Muhammed Shiyas KP).
Even though these start-ups were all a part of distinct entrepreneur organisations, Manu Ganga noted that before joining forces, they considered alternate company growth strategies. He explained the significance of Saudi Arabia for Collatree by stating that by 2030, the West Asian nation hopes to expand its software and digital sectors. “The government has provided a lot of support, which makes it a desirable location. While major corporations and government initiatives in Saudi Arabia have been our main areas of business interest, we have also found some start-ups based there that we can work with.
With a combination of local and international talent, Collatree has two offices in Saudi Arabia, one in Jeddah and the other in Riyadh. We will collaborate to develop leads in Saudi Arabia, Ganga continued, “led by Director and CEO Rifath Rahman, Manu Nambiar, Kavitha Nair (COO, India), and Musthaq Ahamed (COO, Saudi Arabia).” The company wants to increase its presence in India, Australia, the United Arab Emirates, Bahrain, and other countries in West Asia.
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