The startup plans to use the funds to accelerate product development, build a global team, and expand presence in multiple geographies.
Founded in 2018 by Shruti Ghatge and Rahil Shah, Zomentum provides an all-in-one solution with various product modules that enables IT channel partners to grow their business and add new customers.
Zomentum, which started selling its products in the month of January 2020, claims to have acquired clients across four continents currently.
“There are over 200,000 IT partners in the US alone. And almost the same number across Canada, the UK, and Australia. As we add more partners, we have an opportunity to improve their business by not only providing them with the tools, but also provide data-driven insights on how these partners could provide more value to their customers (the B2B customer set) to gain market share quickly,” Ghatge said in a statement.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India between July 8 and July 12, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|Zomentum||US/Hyderabad||1.4 million||Seed||Accel, SAIF Partners||-||Software||SaaS|
|JetSynthesys||Pune||40 million||-||Adar Poonawalla, Kris Gopalakrishnan||-||Software||Digital Media|
|Cuemath||Bengaluru||2.9 million||Series B||Trifecta Capital||-||Education/Training||EdTech|
|NOTO||Mumbai||-||Pre-Seed||WEH Ventures||Lead Angels||Food||-|
|SPV Laboratories Pvt. Ltd (Green Cure)||New Delhi||-||-||Venture Catalysts||-||Consumer Products||Fitness & Wellness|
|Blue Sky Analytics||Gurugram||1.2 million||Seed||Beenext||Rainmatter Capital Pvt. Ltd, Stanford Angels & Entrepreneurs||Software||Big Data|
|Shop101||Mumbai||2.3 million (reported)||Series C||Kalaari Capital, Vy Capital, Unilever, Stellaris||-||Consumer Products||E-commerce|