Singapore-headquartered enterprise SaaS platform Actyv.ai has raised $7 million in a pre-Series A funding round led by 1Digi Ventures, a family office based in Singapore.
Previously, the startup had raised $5 million as part of its pre-Series A round, taking the total raise to $12 million in this round. It is also in talks to raise its next Series A round of funding and expects to close in another 3-4 months.
Founded in 2019 by Raghunath Subramanian, About actyv.ai actyv.ai is an AI-powered enterprise SaaS platform with embedded B2B Buy Now Pay Later (BNPL) and insurance, transforming the global B2B supply chain by making business transactions faster and easier.
The platform enables credit facilities for the suppliers and distributor network. It intends to use the raised capital towards market expansion, product enhancement and hiring talent.
Commenting on the investment, Raghu Subramanian said, "We now have a proven track record of achieving milestones in product development, business growth and attracting talent. Our AI-powered SaaS platform, with its embedded offerings, drives substantial operational efficiencies and growth to the entire supply chain ecosystem. This additional infusion of funds validates our being category creators in this space and the conviction to augment our platform's capabilities."
Actyv.ai said it gets the majority of its customers from the FMCG segment and said it is actively onboarding more clients onto the platform. The startup is looking to go beyond the Indian market and get into regions of the Middle East, South East Asia and Africa as part of its future growth plans.