Venture Catalysts Leads Funding For Cloudworx In Its Seed Round Worth $600k

• ByStartupStory     |    April 5, 2024

Venture Catalysts, the nation’s leading early-stage investment firm and integrated incubator, has spearheaded a Seed round of funding totaling $600k for Cloudworx Technologies Pvt. Ltd. The funding round saw participation from a consortium of investors, solidifying Cloudworx’s position as a disruptive force in the realm of digital twins within the emerging enterprise metaverse market.

Cloudworx Technologies, founded in 2019 by Yuvraj Tomar and Kaushik Bharadwaj, has quickly risen to prominence with its pioneering work in digital twin technology. The company’s flagship product, Cloudworx Studio, a no-code, web-based IDE, empowers users to effortlessly create, manage, and maintain digital twins and other 3D enterprise applications directly from their web browsers. These digital replicas are instrumental in sectors such as ports, terminals, smart cities, R&D labs, and industrial IoT, offering unparalleled efficiency and insight into physical assets and environments.

Dr. Apoorva Ranjan Sharma, Director & MD of Venture Catalysts, expressed enthusiasm for Cloudworx’s innovative approach, stating, “We identified an unparalleled value proposition within Cloudworx’s innovative technology, which was an opportunity hard to forego. The integration of digital technologies has accelerated, and the advent of the metaverse presents new avenues for businesses to develop advanced products, upgrade to finer solutions, and achieve unmatched results with an insight-driven approach.”

Yuvraj Tomar, CEO of Cloudworx, emphasized the significance of the funding, stating, “We’re exhilarated by the growth and adoption of digital twins. As AI and digital twins become pivotal in creating meaningful business solutions across various domains, this funding marks a significant milestone. We’re committed to leading this transformative wave, ensuring that by 2030, any work that can be digitised into 3D, will be.”

The Seed round, led by Venture Catalysts and 1Crowd, saw participation from existing investors SucSEED and LetsVenture, as well as new investors Provista and Agility Ventures. Cloudworx plans to utilize the funds to fuel its growth trajectory and expand its international footprint in the global digital twins market.

Venture Catalysts, founded in 2016 by Dr. Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain, and Gaurav Jain, has established itself as a cornerstone of India’s startup ecosystem. With investments in over 300 startups and a cumulative valuation of $10 billion, Venture Catalysts remains at the forefront of fostering technological innovation and entrepreneurial excellence in India and beyond.

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