Bengaluru-based IT startup Technodysis raises Rs 10 crore in debt

Bengaluru-based IT startup Technodysis has raised Rs 10 crore in debt funding from Recur Club, a debt marketplace for startups and small and medium enterprises.

The funding comprises both secured and unsecured debt across the fiscal years 2023 and 2024. The startup plans to use the money to expand its operations, develop new products and strengthen its foothold in key international markets.

Funding and partnership

Recur Club’s co-founder and CEO, Eklavya Gupta, described Technodysis’s progress as “inspiring,” emphasizing the importance of supporting promising ventures with the financial tools they need to succeed.

Nithyananda Nayak, CEO of Technodysis, commented on the partnership, "Our collaboration with Recur Club has been pivotal in our growth journey. Their swift and flexible funding solutions have enabled us to meet capital needs efficiently, which is crucial for our aggressive domestic and global expansion plans." 

The debt structure will help Technodysis scale its presence in regions including the United States, the United Kingdom and Dubai.

Growth and services

Founded in 2020 by entrepreneur Nithyananda Nayak, Technodysis offers a variety of IT services such as software development, cloud computing, cybersecurity, data analytics and AI applications.

The startup focuses on creating customized solutions to improve efficiency and drive innovation in the businesses it serves.

Revenue milestones and goals

Technodysis has posted notable revenue growth, moving from Rs 6 lakh in FY 2021 to Rs 20.25 crore in FY 2024. It projects revenue of Rs 35 crore in FY 2025 and aims to reach Rs 200 crore within the next three years.

Company leaders say the new debt funding will help speed up operations, refine product offerings and further capitalize on market opportunities at home and abroad.