Bengaluru-based Nuvepro Technologies Pvt Ltd, which provides managed cloud environment solutions, has raised $400,000 (Rs 2.5 crore) in a seed round of funding from angel investment platform 1crowd.
The three-year-old startup will use the funding to enhance research and development efforts and for expansion, it said in a statement.
“Nuvepro would be able to form a bridge between enterprises and cloud providers by driving faster adoption. The underlying business model of providing ready-to-use cloud infrastructure on a subscription or pay-as-you-go basis is a strong pull for enterprises,” said Anup Kuruvilla, co-founder of 1Crowd.
1Crowd is focussed on making early-stage investments and has made about 12 investments since last year. It claims to have 500 investors and over 50 mentors on its network.
In December last year, VCCircle had reported that 1crowd was looking to float its maiden seed fund even as it looked to expand its exposure to early-stage ventures.
Nuvepro was founded in 2014 by Giridhar, Janakiraman Srinivasan, Umesh Bhatt, Moyukh Goswami and Rajesh Vasudevan. The company enables organisations to improve cloud adoption and utilisation by providing ready-to-use infrastructure and applications.
“Over 80% of enterprises are using the cloud. However, CIOs (chief information officers) are still finding it challenging to increase cloud adoption and utilisation. Returns on their cloud investments are far from realised,” said Giridhar LV, co-founder and CEO of Nuvepro.
The company claims that its solution helps CIOs track cloud usage, optimise resources and cut costs by over 50%.
A couple of ventures in the cloud space have raised funding recently. In July, Bengaluru- and US-based Minjar Cloud Solutions Pvt. Ltd, which operates a cloud computing platform, raised an undisclosed amount in its pre-Series A funding round led by Blume Ventures.
In January this year, cloud-based solutions provider SecurAX Tech Solutions (I) Pvt. Ltd secured an undisclosed amount of funding from early-stage investor Axilor Ventures, Parampara Early Stage Opportunities Fund and a clutch of angel investors.