Bangalore-based enterprise startup, Zapstitch has raised $2 Mn (about INR 12.4 Cr) in pre series A funding from Helion and existing investor Orios Venture Partners.
The Cloud Data Integration platform, Zapstitch, enables small businesses to automate their data flow across cloud business solutions. It integrates multiple cloud business solutions, besides integrating ecommerce and accounting apps together.
The startup plans to utilize the raised funds to expand its offerings in the product line which are designed for data migration, data quality, and data validation. Zapstitch is also planning to set up a team in US in order to strengthen their sales and marketing efforts in markets abroad.
As per the deal terms, Alok Goyal of Helion Partners and Rehan Yar Khan of Orios Partners are likely to join the company board.
Alok Goyal, partner at Helion commented by saying that Zapstitch is able to provide the right kind of instructions and support sitting remotely out of India. Whereas, Orios Venture Partners Founder and Investor Rehan Yar Khan complimented the startup by mentioning that Zapstitch stitches it all up so that one can move data across apps.
Zapstitch was founded in 2013, by by Satya Padmanabham and Ravi Madabhushi. Satya P D was also the co-founder of YourBus.in. The startup claims to automate accounting for more than 1200 online stores worldwide. The startup serves over 400 clients out of which 90% are based out in US and Canada.
Earlier in last year, the startup had received $100K seed funding from the founder of People Group’s Anupam Mittal along with a group of other angel investors.
Integrating with cloud is becoming one of the most implemented technologies in the organizations. There has been a constant development in the startups dealing with cloud computing, cloud based customer service, cloud communication, cloud based product and cloud based video learning among others.
FreshDesk, cloud-based customer service startup, raised $50 Mn; cloud computing startup, Aryaka Network Inc raised $16 Mn and cloud-based product startup CollateBox raised INR 1 Cr. These are a few startups that raised funding in the cloud domain over a past few months.