[Funding alert] SaaS platform Fieldproxy raises Rs 2 Cr in seed round
Fieldproxy, a no-code SaaS platform for improving the productivity of field teams, on Monday announced that it has raised Rs 2 crore as part of its seed round. The current round saw participation from LetsVenture, 2am VC, and magic.fund (which marks its entry into India with the current investment in Fieldproxy).
Other marquee angel investors like KRS Jamwal, Executive Director, Tata Industries; Ajit Deshpande, Vice President of Demand Generation at Marqeta Inc; Kushal Khandwala, Director at KIFS Housing Finance Limited; Asad Daud, Director, SAT Industries; Nilesh Patel, Principal, Cisco Systems; Ketan Kothari, Managing Director, Sigma Byte; Shreya Rao, Partner, AZB & Partners, and others also participated in the round.
Fieldproxy had earlier raised Rs 25 lakh as part of its seed round from 100x.vc in March 2021 and was part of their class 04. The startup has raised Rs 2.25 crore till date.
Founded in 2020 by Swaroop Vijayakumar and Balakrishna B, Fieldproxy provides a web based no-code builder that lets business teams build custom templates to streamline their internal interactions with the field teams. The field teams have an app based solution.
"As the first institutional investor in Fieldproxy, we are delighted to see the response from investors. We believe that Fieldproxy has a world-class solution to improve productivity for organisations with a field force. With its no-code platform, organisations can quickly implement the product and reap its benefits. Fieldproxy has the capability to become a true leader in this space," said Ninad Karpe, Partner, 100X.VC.
Fieldproxy Co-founders L:R - Balakrishna B(CTO), Swaroop Vijayakumar (CEO)
Commenting on the fundraise, Swaroop Vijayakumar, Co-founder and CEO, Fieldproxy, said,
"We are overwhelmed by the encouraging response to our funding round and the confidence investors have in our potential in creating the first no-code app builder for field teams. Flexible, no-code platforms are the future and have transformed the way many desk teams work. We intend to be at the forefront of this transformation for businesses in field-first industries such as field servicing, consumer goods, pharma, energy, and infrastructure."
Sunitha Ramaswamy, President, Early Stage, LetsVenture, added,
“Covid-19 has accelerated multiple industries that we cater to. For example, today, due to COVID, the time we spend at home has reached record highs and there is a need to ensure that our home life support systems are always running. There are 5 million home servicing businesses who ensure their field technicians are always available to keep these essential services up and running."
"These businesses are currently being managed through pen, paper, emails, WhatsApp, and phone calls. We at LetsVenture are looking forward to working with Swaroop and his team, who are working towards building a no-code SaaS platform that will enable businesses to manage a field servicing team."