- The Ranchi-based company intends to utilize the capital to expand its sales and marketing efforts across the target markets and to deepen the product suite
- Grid to focus on strengthening its leadership bench and on-board partners with operational expertise to expand its footprint in its key markets
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| Grid Co-founders Shaurya Poddar, Shreyansh Jain, Udit Poddar and Aayush Agrawal |
Incepted with a vision to bring the best data management practices from leading tech companies to traditional ones in 2017, Grid (Pragyaam Data Technologies) launched its first beta version and pivoted to a SaaS model in early 2021. Aayush Agrawal, Udit Poddar, Shreyansh Jain, and Shaurya Poddar started Grid as a data services company. However, they soon realized a need for a platform to assist mining, manufacturing, and public infrastructure companies in going digital using the mobile-first no-code apps.
The SaaS revolution has been influential in bringing a change for companies across the globe. However, most products are directed towards technology, sales, and service or accounting and finance teams and not towards core operations. Further, traditional asset-heavy industries have largely been under-served. With its offerings, the no-code B2B SaaS platform is driving efficiency in these industries that are at the centre of a sustainable future.
Interestingly, promoters of its several customers also invested in this round. It is a testimony of the value that Grid has delivered to their businesses and bodes well for the future.
Speaking about the funding, Udit Poddar, CEO & Co-Founder, Grid, said, “Most of these asset-heavy industries constantly generate operational data which can drive efficiency. The lack of easy-to-use and adapted tools has been a key deterrent for them to be digitized. With increasing commodity costs, companies are getting more data-centric to increase the efficiency of their operations. Starting as a no-code operations management platform, we envision Grid as the essential operational layer that brings together people and device data to create ESG-focused operations. We are delighted with this partnership and aim to use it to expand our operations further.”
Jaideep Mehta, Lead Investor at IAN said: "We are excited to partner with the Founders at Grid. They have demonstrated the ability to build a high performance business in under-served sectors such as mining and infrastructure, while at the same time developing easy-to-use technology that provides rapid ROI to their customers. With current success stories at both Indian and overseas customers, we are confident that Udit and team will build a truly global business in the years to come, and the IAN investment group will be partnering with them all the way".
Grid plans to launch the first marketplace for apps for operations management built in collaboration with industry experts in the second quarter. Operating across different markets, the company further wants to expand its international footprint in the FY2022-23 and the consecutive financial year. In 2020, the platform received a seed funding of $150,000 from Singapore-based VC Startup-O Ventures.
Indian Angel Network is India’s first and world’s largest business angel network with close to 500 members across the world, comprising the who’s who of successful entrepreneurs and dynamic CEOs. With investors from 12 countries, IAN’s presence spans 7 locations, which includes cities in India and the UK. The network is sector agnostic and has funded start-ups across 19 sectors in India and 7 other countries growing global footprint companies. With an excellent track record, IAN has been giving excellent cash exits year-on-year to its investor members, for the last 12 years. Some of its marquee investee companies include Druva, Spinny, Box8, Uniphore, WOW Momos, Consure, Fareye, NOCCARC, Propelld, Skit.ai amongst many others.
IAN Fund, an INR 375 crore VC fund is a uniquely differentiated seed/early stage Fund that aims to transform India’s entrepreneurial landscape. The fund invests in innovative companies in sectors including healthcare and medical devices, VR, AI, software as a service, marketplaces, fin-tech, big data, artificial intelligence, agritech, and hardware.
With this, IAN has created the single largest platform for seed and early-stage investing, enabling entrepreneurs to raise from Rs. 25 lakhs to Rs. 50 crores.
The SaaS revolution has been influential in bringing a change for companies across the globe. However, most products are directed towards technology, sales, and service or accounting and finance teams and not towards core operations. Further, traditional asset-heavy industries have largely been under-served. With its offerings, the no-code B2B SaaS platform is driving efficiency in these industries that are at the centre of a sustainable future.
Interestingly, promoters of its several customers also invested in this round. It is a testimony of the value that Grid has delivered to their businesses and bodes well for the future.
Speaking about the funding, Udit Poddar, CEO & Co-Founder, Grid, said, “Most of these asset-heavy industries constantly generate operational data which can drive efficiency. The lack of easy-to-use and adapted tools has been a key deterrent for them to be digitized. With increasing commodity costs, companies are getting more data-centric to increase the efficiency of their operations. Starting as a no-code operations management platform, we envision Grid as the essential operational layer that brings together people and device data to create ESG-focused operations. We are delighted with this partnership and aim to use it to expand our operations further.”
Jaideep Mehta, Lead Investor at IAN said: "We are excited to partner with the Founders at Grid. They have demonstrated the ability to build a high performance business in under-served sectors such as mining and infrastructure, while at the same time developing easy-to-use technology that provides rapid ROI to their customers. With current success stories at both Indian and overseas customers, we are confident that Udit and team will build a truly global business in the years to come, and the IAN investment group will be partnering with them all the way".
Grid plans to launch the first marketplace for apps for operations management built in collaboration with industry experts in the second quarter. Operating across different markets, the company further wants to expand its international footprint in the FY2022-23 and the consecutive financial year. In 2020, the platform received a seed funding of $150,000 from Singapore-based VC Startup-O Ventures.
Indian Angel Network is India’s first and world’s largest business angel network with close to 500 members across the world, comprising the who’s who of successful entrepreneurs and dynamic CEOs. With investors from 12 countries, IAN’s presence spans 7 locations, which includes cities in India and the UK. The network is sector agnostic and has funded start-ups across 19 sectors in India and 7 other countries growing global footprint companies. With an excellent track record, IAN has been giving excellent cash exits year-on-year to its investor members, for the last 12 years. Some of its marquee investee companies include Druva, Spinny, Box8, Uniphore, WOW Momos, Consure, Fareye, NOCCARC, Propelld, Skit.ai amongst many others.
IAN Fund, an INR 375 crore VC fund is a uniquely differentiated seed/early stage Fund that aims to transform India’s entrepreneurial landscape. The fund invests in innovative companies in sectors including healthcare and medical devices, VR, AI, software as a service, marketplaces, fin-tech, big data, artificial intelligence, agritech, and hardware.
With this, IAN has created the single largest platform for seed and early-stage investing, enabling entrepreneurs to raise from Rs. 25 lakhs to Rs. 50 crores.
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