Grid has raised $700K in a funding round led by Indian Angel Network (IAN). The lead investors for the round are Mr. Jaideep Mehta, Mr. KRS Jamwal, Mr. Pramod Jajoo, and Mr. Shalil Gupta. The company intends to primarily utilize the freshly infused capital to expand its sales and marketing efforts across the target markets and strengthen its product suite. The Ranchi-based company will focus on bringing in the right talent as it scales up, both within the company as well as its partner ecosystem.
Incepted with a vision to bring the best data management practices from leading tech companies to traditional ones in 2017, Grid (Pragyaam Data Technologies) launched its first beta version and pivoted to a SaaS model in early 2021. Aayush Agrawal, Udit Poddar, Shreyansh Jain, and Shaurya Poddar started Grid as a data services company. However, they soon realized a need for a platform to assist mining, manufacturing, and public infrastructure companies in going digital using the mobile-first no-code apps.
The SaaS revolution has been influential in bringing a change for companies across the globe. However, most products are directed towards technology, sales, and service or accounting and finance teams and not towards core operations. Further, traditional asset-heavy industries have largely been under-served. With its offerings, the no-code B2B SaaS platform is driving efficiency in these industries that are at the centre of a sustainable future.
Interestingly, promoters of its several customers also invested in this round. It is a testimony of the value that Grid has delivered to their businesses and bodes well for the future.
Speaking about the funding, Udit Poddar, CEO & Co-Founder, Grid, said, “Most of these asset-heavy industries constantly generate operational data which can drive efficiency. The lack of easy-to-use and adapted tools has been a key deterrent for them to be digitized. With increasing commodity costs, companies are getting more data-centric to increase the efficiency of their operations. Starting as a no-code operations management platform, we envision Grid as the essential operational layer that brings together people and device data to create ESG-focused operations. We are delighted with this partnership and aim to use it to expand our operations further.”
Jaideep Mehta, Lead Investor at IAN said: "We are excited to partner with the Founders at Grid. They have demonstrated the ability to build a high performance business in under-served sectors such as mining and infrastructure, while at the same time developing easy-to-use technology that provides rapid ROI to their customers. With current success stories at both Indian and overseas customers, we are confident that Udit and team will build a truly global business in the years to come, and the IAN investment group will be partnering with them all the way".
Grid plans to launch the first marketplace for apps for operations management built in collaboration with industry experts in the second quarter. Operating across different markets, the company further wants to expand its international footprint in the FY2022-23 and the consecutive financial year. In 2020, the platform received a seed funding of $150,000 from Singapore-based VC Startup-O Ventures.