SaaS Startup Knit Bags Funding From Endiya, Axilor For Its Unified API Platform

Bengaluru-based SaaS startup Knit has bagged $1 Mn in a seed funding round led by early-stage venture capital firm Endiya Partners, with participation from Axilor Ventures and unnamed angel investors.

Knit said it would deploy the fresh capital towards enhancing its product stack and integrating Gen AI technologies into its systems. 

Founded by Yasharth Mishra in 2024, Knit’s unified application programming interface (API) platform enables businesses to integrate data from multiple SaaS solutions and get access to data from these on their primary work communication platforms and within other SaaS tools. 

For instance, customers can connect with multiple SaaS platforms and workplace chat tools such as Freshteams, Slack, Workday, Greenhouse, Rippling, BambooHR using only the Knit API. 

According to Knit’s website, its unified API platform allows businesses to launch third party integrations in real time, across categories such as human resources information system (HRIS), applicant tracking system (ATS), customer relationship management (CRM), payroll, compliance and verification, expense management and accounting.

The three-month-old startup claims to be catering to businesses such as Onsurity, Multiplier, Razorpay, Lealine, Callify and Scrut Automation among others.

For instance, Razorpay offers a comprehensive payroll platform RazorpayX for companies to ensure a seamless transfer of funds to employees. 

Historically, Razorpay has banked on its customers’ HRMS systems to get employee details, which are often shared via CSV or excel files, which leaves room for human error.

“Knit acts as a middle layer between RazorpayX and the customer’s HRMS system by offering a standard API for HRMS integrations. Developers at RazorpayX integrated once with Knit and immediately went live with the 30+ HRMS integrations Knit offers,” Knit told Inc42.

The founder also told us that GenAI integration would increase adoption of API tools across the developer ecosystem. He believes that developers looking to build an integration today face a lot of friction in terms of reading the API documentation, the data fields and end points before building connectors, transformers and loaders needed for integration. “We are looking to leverage Gen AI across this entire workflow of building an integration by using smart AI agents which can parse API docs, write connectors and facilitate data transfer in a format which conforms to the developers requirements.”

A portion of the fundraise will also be used to further Knit’s expansion plans and increase its customer reach in the US market and other regions. 

Knit competes against the likes of Zapier, Unified.to, Merge API, Finch Workato, Boomi, and Tray.io among others in the unified API space. These alternatives work similarly and allow companies to integrate their various SaaS tools using a single API.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.