Actyv.ai, an artificial intelligence-powered enterprise software-as-a-service platform, on Tuesday said it has marked the final close of its pre-Series A funding round at $12 million (around Rs 96 crore).
The round comprised two tranches. In the first leg, the company raised $5 million (around Rs 40 crore) from 1Digi Investment management firm in February last year, while in the second leg it has secured $7 million (around Rs 56 crore) from 1Digi Ventures, the family office of Raghunath Subramanian, global chief executive at Actyv.ai.
Singapore and Bengaluru-based Actyv.ai will deploy the fresh proceeds for hiring, product development and to expand globally.
Founded by Raghunath Subramanian, Raghu Venkat and Ramkumar Thirumurthi in 2019, Actyv.ai is used by large enterprises to transform their supply chains and to empower their partners with an intuitive platform and financial products. Its scoring enables financial institutions to provide unsecured, low-interest, closed-loop credit (BNPL for B2B) for SMBs.
It claims to have joined hands with over 20 financial institutions enabling embedded BNPL, along with onboarding over 25,000 distributors and one lakh retailers on the platform.
“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,” said Subramanian.
Singapore-based 1Digi Ventures invests in early-stage startups mostly in the seed and Series A rounds across B2B space.
In November last year, the firm invested an undisclosed amount in the Business-to-business (B2B) e-commerce firm Kneady.