SaaS startup Actyv.ai raises $7 million in final close of Pre-Series A round

• ByStartupStory     |    January 10, 2023

Actyv.ai, an enterprise software-as-a-service platform powered by artificial intelligence, announced on Tuesday that it has reached the $12 million milestone as the final closure of its pre-Series A fundraising round (around Rs 96 crore). 

There were two tranches in the round. The company acquired $5 million (about Rs 40 crore) in the first phase from the 1Digi Investment management firm in February of last year, and $7 million (around Rs 56 crore) in the second leg from 1Digi Ventures, the family office of Raghunath Subramanian, the Actyv.ai worldwide chief executive. 

Actyv.ai, based in Singapore and Bengaluru, will use the new funds for product development, hiring, and international expansion.

Large businesses use Actyv.ai, founded in 2019 by Raghunath Subramanian, Raghu Venkat, and Ramkumar Thirumurthi, to improve their supply chains and empower their partners with an easy-to-use platform and financial products. Financial institutions can offer unsecured, low-interest, closed-loop credit to SMBs thanks to its scoring (BNPL for B2B). 

With the help of more than 20 financial institutions, it claims to have enabled embedded BNPL and onboarded over 25,000 distributors and 100,000 shops into the platform.

Subramanian said, “Our AI-powered SaaS platform with its embedded offerings, drives operational efficiencies and growth to the entire supply chain ecosystem. This additional infusion of funds validates our being category creators in this space and the conviction to augment our platform’s capabilities.”

1Digi Ventures, based in Singapore, invests primarily in seed and series A rounds of early-stage entrepreneurs operating in the B2B sector. 

The business invested a kneady-raise-early-stage-capital” target=” blank”>undisclosed sum in the Business-to-Business (B2B) e-commerce company Kneady in November of last year.

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