Bengaluru Based Syook Raises $1M From Inflection Point Ventures And ONGC In A Series A Round
- BySheetal Sidhu | August 24, 2021
Bengaluru based enterprise tech startup Syook on Tuesday announced that it has raised $1 million from Inflection Point Ventures and ONGC in a Series A round. The startup aims to use this funding to pursue growth in international markets, especially in the Middle East and Southeast Asia, and also enhance and scale up its engineering team. Arjun Nagarajan, Co-Founder and CEO of Syook said, “The pandemic has put the limelight on digital transformation. Organizations around the world are looking at tech solutions to remain competitive. We have seen 2X growth in the revenues of the entire last financial year into our order book in just the first 3 months of this FY. We are also growing outside India, especially in the Middle East and South-East Asia.”
Vinay Bansal, Founder and CEO, Inflection Point Ventures stated, “Syook has been working relentlessly for the last 2 years to drive impact of real time location analytics to its customers. We have been watching them grow as they entered a high growth trajectory by signing some of the most respected brands in India as their customers and partners. This fast growth needs patient capital and more support to realize its ambition to go international. Given the pipeline visibility, we believe in the team to back them by investing again in the company.” Aman, Co-founder and CTO, Syook, said, “Ours is a modular, configurable no-code platform that provides operational efficiency and gains from day one. It’s really easy to deploy and we start seeing an ROI immediately.”
After establishing an initial product-market fit with some leading customers, Syook claims to have witnessed strong traction outside of India. It works with giants like Hindustan Unilever, Reckitt Benckiser, FIAT, and the Tata Group as some of its customers.
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