The pree-seed funding was led by India Quotient's First Cheque, with participation from CRED’s founder Kunal Shah and Curefoods’ founder Ankit Nagori among others
The Gurugram-based startup plans to primarily use the fresh capital to launch new products and increase its market reach, Bitscale’s cofounder Saket Goyal told Inc42
Founded in 2023, Bitscale aims to build a new type of UI, which will help sales and marketing professionals automate their manual workflows
Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Software as a service startup Bitscale has raised an undisclosed amount of funding in its pre-seed funding round led by First Cheque, a subsidiary of India Quotient.
The round also saw participation from 7Square Ventures and a clutch of angel investors, including CRED’s founder Kunal Shah, Curefoods’ founder Ankit Nagori and Supplynote’s cofounders Kumar Kushang, Abhishek Verma and Harshit Mittal.
The Gurugram-based startup plans to primarily use the fresh capital to launch new products and increase its market reach, Bitscale’s cofounder Saket Goyal told Inc42.
A portion of the proceeds have been earmarked for building a lean, strong team and experiment with various go-to-market strategies, the company said in a LinkedIn post.
Entrackr reported the development first.
Founded by Goyal, Abhinay Kumar and Yash Sharma in 2023, Bitscale aims to build a new type of UI, which will help sales and marketing professionals automate their manual workflows.
“We are reimagining the current chat-based UI of AI( ChatGPT, Perplexity) into a more intuitive and scalable, Excel-like UI. This new UI allows us to create complex AI-driven tools for web scraping, prospecting, generating content, and even LinkedIn searches,” Goyal said.
The development comes at a time when Indian SaaS startups are seeing strong interest from investors globally.
For instance, SaaS startup Maxim AI last month raised $3 Mn (around INR 25 Cr) in a seed funding round led by Elevation Capital. The San Francisco-headquartered company aims to utilise the funds for talent acquisition and expanding its operations for more partnerships with companies building AI products.
With the inception of artificial intelligence (AI) in the Indian startup ecosystem, many Indian SaaS startups are streamlining their operations with the help of AI. For instance, SaaS unicorn Fractal Analytics is utilising its research on AI to facilitate the hiring process.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.