Funds to be utilized in product R&D and to expand in the US and Europe
Doppelio, a leading IoT Test Automation platform provider, has raised $1.2 Million in pre-series A funding from Axilor Ventures and Mela Ventures. Founded in 2019 by Gaurav Johri, Sharmila Saha, and Rajesh Kathirvelu, Doppelio is already adding significant value to Fortune 1000 companies from diverse industries, such as Automotive, Industrial Engineering, Manufacturing and Connected Products.
Research organizations have estimated that the number of IoT devices will exceed 40 billion by 2026, with a strong CAGR. The number of connected endpoints is expected to be even higher than that. Due to this extensive scale, it is imperative that organizations guarantee their products function seamlessly, minimize product recalls, and, most importantly, prevent any negative consequences on users. However, lab testing of IoT applications is time-consuming, expensive, and still insufficient. This increases the time to market and the risk of failure of connected solutions.
Doppelio enablesthe testing of IoT applications without dependence on physical devices. Its device virtualization, simulation and test automation capabilities enable clients to test comprehensively with speed and reduce their dependence on field trials. With Doppelio, companies can test a wide range of functionalities (including FOTA, remote command and control) and test for performancewith up to a million devices.
Gaurav Johri, CEO at Doppelio, said “The response we are getting from large global enterprisesvalidates that we are solving an important problem for these companies.As connected products proliferate in the coming years, we expect Doppelio to become a critical piece in the IoT ecosystem,We are excited to have Mela and Axiloras investors and this funding will deepen our investments in the product and go-to-market.”
Ganapathy Venugopal, Co-Founder & CEO at Axilor Ventures, said, “Axilor and Doppelio share a common vision of creating category-leading solutions for large global enterprises. IoT devices are becoming pervasive but testing them is still hard. This leads to slower release cycles. Doppelio's advanced testing and simulation capabilities can help enterprises launch better products faster.”
Krishnakumar Natarajan, Managing Partner at Mela Ventures, said, “Doppelio is a great example of a company identifying a relevant and complex global problem and having a simple and impactful solution that can deliver value instantly. I am excited with the traction Doppelio is getting and am confident that they are on a path to becoming the category leaders in this space and being one of the game-changing global product company out of India.”
Doppelio will be at the IoT Tech Expo, Santa Clara, CA, on 17 May, 2023. Visit us at Booth#263 if you are in the area.
About Doppelio
Doppelio enables companies to rapidly test IoT apps by virtualizing and simulating devices at scale. The platform enables the testing of IoT applications for any device, protocol, and scenario.Fortune 1000 to emerging growth leaders across the industries leverage Doppelio’s IoT Test Automation platform to reduce dependence on physical devices, reduce the risk of failure, faster time to market and lower the cost of quality. Visit www.doppelio.com for more information.
About Axilor Ventures
Founded in 2014, Axilor Ventures is among the top 3 most active seed funds operating out of India. Axilor Ventures invests in early-stage startup across sectors in the supply chain/B2B commerce, Enterprise SaaS, Healthtech, AgriTech, Fintech, and consumer internet space. Axilor Ventures was founded and backed by Indian tech pioneers, including Kris Gopalakrishnan, SD Shibulal, Prof. Tarun Khanna, Srinath Batni, and Ganapathy Venugopal.
About Mela Ventures
Co-founded by Krishnakumar Natarajan and NS Parthasarathy, Mela Ventures aims to put Indian B2B SaaS companies that are solving real-world challenges on the global map. They celebrate and support the spirit of entrepreneurship at every stage of the journey. In addition to investment, they also provide guidance and support to achieve collective goals defined by their portfolio companies.
Mela Ventures provides investment, strategy, innovation, research, networking and other mentorships to start-ups and next-generation entrepreneurs.
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