Hyderabad-based Darwinbox has raised $15 million in a fresh round of financing. The Series C round was led by Salesforce Ventures, the venture arm of Salesforce. Existing investors Lightspeed India and Sequoia Capital India also participated in the round.
The latest round of funding has brought the total funding raised to $35 million. The fresh injection of funds will enable the Indian startup to expand in the country and explore Southeast Asian markets, including Indonesia, Malaysia, and Thailand.
“Cloud adoption in Asia is growing at a monumental pace and the (Covid-19) pandemic has only further amplified the importance of going digital,” said Alex Kayyal, Partner and Head of International at Salesforce Ventures. “Darwinbox is delivering innovation for Asia’s leading enterprises and has emerged as a top platform of choice.”
Darwinbox is a leading Software-as-a-Service company that has done well in the local market (India). Its clients include large traditional businesses such as Adani, Mahindra, Kotak, TVS, and large internet companies such as Swiggy, BigBasket, and Delhivery. It provides services to 500 enterprises globally and was founded by Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni in 2016. The company has seen 300% growth in revenue since September 2019.
HCL Expands its Strategic Partnership with Google Cloud
Tencent Cloud Deploys Its Data Center in Bahrain
Indian Startup CRED invests in Carl Pei's upcoming audio startup
Vision Fund Invests in Chinese Fitness App Keep
SAP Invests €55M to Accelerate Its Cloud Strategy in India
© 2021 CIO Bulletin. All rights reserved.