Trademo Technologies Inc, a global supply chain software-as-a-service (SaaS) company, said on Wednesday that it has raised $12.5 million (Rs 92.4 crore) in its seed funding round led by former Google executive Amit Singhal.
The funding round witnessed participation from early-stage venture capital investor Saama Capital, Neeraj Arora, former chief business officer of WhatsApp, and Sridhar Ramaswamy, founder and CEO of Neeva, said Trademo in a statement.
Shalabh Singhal, founder and CEO, Trademo, said that the fresh capital will be used to invest in its products and team.
The Palo-Alto headquartered company gathers public and private data on global trade transactions, sanctioned parties, trade tariffs, environmental, and social and governance (ESG) using its proprietary algorithms. The company then analyses this data and uses technologies to build end-to-end visibility of global supply chains. Its first product - Trademo Intel - is armed with a knowledge graph built over one billion trade transactions between over five million entities from more than 150 countries.
Ash Lilani, managing partner, Saama Capital, noted that global trade and supply chains have become increasingly complex over time. “Trademo’s solution comes at the right time, and is using the right technology and approach to crack one of the most important problems of our times,” he added.
Saama Capital has its origins in 2006. It was part of SVB Capital Partners before Lilani and Suresh Shanmugham spun it out as an independent firm in 2011.
The company’s maiden fund had a corpus of around $54 million. In April 2018, the investor raised $100 million (~Rs 650 crore) for its latest vehicle – Saama Capital IV Ltd – from 59 investors.
Saama Capital’s investments include SKS Microfinance, Veeba, Paytm and Bluestone.