Nektar raises USD 8.1 mn in seed funding, plans to double India team

Singapore-based IT start-up Nektar.ai on Monday announced raising USD 6 million (around Rs 44.6 crore) in seed funding round led by B Capital Group, 3One4 Capital and Nexus Venture Partners.




The company said it would utilise the funds for expanding its team in India. In November 2020, the company had raised an initial USD 2.15 million (around Rs 14.8 crore) led by Nexus Venture Partners.

“The latest round of funding takes the total seed amount raised by the company to USD 8.1 million, making it one of the biggest seed rounds for a SaaS company in Asia,” the company said in a statement.

A clutch of high-profile angel investors including Dell APJ President Amit Midha, Oyo Hotels founder and CEO Ritesh Agarwal, Tyler Technologies ex-president data and insights, Kevin Merritt, SentinelOne VP APJ Evan Davidson, Softbank senior managing partner Deep Nishar, Ekata VP and GM APAC Tom Donlea and several other prominent investors also participated in the round, according to the statement.

Netkar co-founder and CEO Abhijeet Vijayvergiya said that the compay plans to double down on customer support, research and development (R&D) and technology team in India.

“Nektar.ai plans to use this capital to aggressively expand its R&D and Engineering team in India. We are building the artificial intelligence hub and RD center in India,” Vijayvergiya said.

He said a lot of India B2B SaaS companies are expanding globally and need help with the right tools that help them scale their sales engine and Nektar is a great solution for most of these fast growing India based B2B saas companies that are going after global opportunity.

We are thrilled to double down on our investment with Nektar.ai as they execute their vision to build a modern solution of revenue growth for digital, distributed revenue teams,” Nexus Venture Partners managing director Jishnu Bhattacharjee said.

Founded in 2020, Nektar.ai has been working with select customers in India and the US in private beta.

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It plans to come out of the beta and launch the product for general availability in the first half of 2022, the statement said.

“B Capital is always eager to work with experienced and knowledgeable founders, and we are confident that Abhijeet, Aravind and the Nektar.ai team will continue their strong momentum on the path to becoming the industry-leading tool for enterprise sales productivity,” B Capital Group general partner Gabe Greenbaum said