SaaS platform LeadSquared, smart kitchen startup Karat Farms raise funds

By Anuj Suvarna

  • 06 Oct 2021

Marketing automation and customer-relationship platform LeadSquared on Tuesday said it has raised an undisclosed amount of funding from International Finance Corporation (IFC).  

The software as a service (SaaS) platform will use the capital for product innovation and expansion. The company has launched products including AI sales assistants and a digital onboarding platform to meet the growing demands of the industry verticals.   

The company said it has a strong foothold in the higher education space and aims to double its growth in the sector.  

LeadSquared, owned by MarketXpander Services Pvt Ltd, was co-founded in 2012 by Sudhakar Gorti, Prashant Singh, Sukhbir Kalsi, and Anand Kumar, and launched in 2013. Apart from Bengaluru, the company has offices in Noida, Hyderabad, New Jersey, and Mumbai.  

LeadSquared has over 1,000 customers globally across industries like edtech, higher education, financial services, and healthcare. It counts the likes of BYJU’S, Acko, Amity University, OLX, Dunzo, Practo among its clients.  

Earlier this year, Gaja Capital led a $32 million (Rs 235 crore) Series B round of funding for global expansion, product innovation, and hiring more professionals.   

The company had raised $3 million in its Series A round of funding led by Stakeboat Capital in 2019. 

Karat Farms 

Bengaluru-based Karat Farms, a smart kitchen startup with focus on growing vegetables at home, said it has raised undisclosed pre-seed funding from Vriksh Impact Partners (VIP).  

The company said it plans to use the raised investment to acquire more customers and build the product.   

“A kitchen garden at home brings tremendous impact right from nutrition, mental health, connecting with nature and our food. The funding will enable it to grow from seed to a tree,” Prerna Goel, co-founder and director of VIP, said.

Karat Farms was incubated in NSRCEL which is powered by IIM Bangalore. 

"The incubation programme at NSRCEL helped us in effectively articulating the story behind Karat Farms and made it easier to raise funds and get investors excited about the idea and its potential. It has given us the clarity to strategise, budget, and hire talent,” Quraishy Yousuf, co-founder of Karat Farms, said.

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