Ola’s co-founder Ankit Bhati launches SaaS startup Amnic

• ByTejika Bajaj     |    January 8, 2022

The mobility unicorn Ola’s co-founder Ankit Bhati plans to launch a new SaaS based startup called Amnic with his former colleagues Satya Nagarajan and Nimish Joshi. Furthermore, sources have revealed that Sequoia Capital is likely to infuse $15-20 million in the startup as a part of its seed round of funding.

It is observed that the SaaS startup Aminic will operate in the DevOps toolchain space wherein it will allow businesses maintain a business software development pipeline and make the process easier. Further, the startup has been registered as a non-government company with the RoC of Bangalore.

Fresh out of IIT, Bombay, Bhati co-founded ANI Technologies( along with college senior Bhavish Agarwal in 2010). While he served as its Chief Technology Officer since inception, he took a backseat a couple of years ago, even as he continued as a shareholder. While Satya Nagarajan served as the Vice President and Head of Software Engineering & AI at Ola before leaving in March last year, Nimish Joshi was the Vice President and Head of Strategy and Business Development.

The launch of a new venture comes at a time when the SaaS space is observing piqued investor interest and a boost of demand from the consumers. This sector has clocked in huge investor interest in India as well as abroad. The SaaS startups in India have raised a whopping $4.5 billion from investors in 2021.

This announcement also comes at a time when Ola and its electric vehicle business have faced severe backlash owing to delayed deliveries and lack of raw material to support the production demand.

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