India Deal Monitor: Nexus leads $18m funding in JIFFY.ai and more updates

US and -India based enterprise automation startup JIFFY.ai has raised about $18 million in its Series A funding round led by venture capital firm Nexus Venture Partners, per an announcement.

The round also saw participation of Rebright Partners, W250 Venture Fund and several business leaders, JIFFY.ai said in a statement. The executives include Sri Viswanath, CTO of Atlassian; Richard Galanti, CFO of Costco; Charles Goldman, CEO of Assetmark; Tony Thomas, former CIO of Nissan Motors; Jim Brady, former COO of Grant Thornton; and Bob Ward, former COO of Sungard Wealth and Retirement.

The startup will use the funds to expand its team, existing customer base, and to scale its product, the statement added.

“Our goal is to set a new standard for business at the intersection of entrepreneurship and innovation. Across our entire team, we’re dedicated to tackling the effects of automation on the workforce, not just by accelerating the path to profit for businesses, but also through our foundation arm, we’ll invest in programs to re-train and up-skill workers whose jobs may be displaced,” JIFFY.ai CEO and co-founder Babu Sivadasan said.

JIFFY.ai said, with deep expertise in AI, natural language processing, fintech, and automation, it has evolved its core product to make complex process automation and application design available to enterprises in just a few clicks.

Founded in 2018, JIFFY.ai has built a team of 150 global employees, and a customer base of over 20 enterprises.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India between June 8-June 12, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
JIFFY.aiIndia, US18 millionSeries ANexus Venture PartnersRebright Partners, W250 Venture Fund, Sri Viswanath, Richard Galanti, Charles Goldman, Tony Thomas, Jim Brady, Bob WardSoftwareAI and Machine Learning
Myelin FoundryBengaluru--Kris Gopalakrishnan’s family office — Pratithi-SoftwareAI and Machine Learning
CloudKnox SecurityCalifornia--Wipro Ventures-IT InfrastructureCloud Computing
Hapramp StudioGurugram1 millionSeedAnand Mahindra, chairman, Mahindra Group-InternetSocial Media
WayCool Foods and ProductsChennai5.5 millionDebtIndusInd Bank Ltd-FoodAgTech
PostmanCalifornia, Bengaluru150 millionSeries CInsight PartnersCRV, Nexus Venture PartnersSoftwareSaaS

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.