HomeFunding AlertThingsUp Raises $600K Seed Funding From Silverneedle, others

ThingsUp Raises $600K Seed Funding From Silverneedle, others

ThingsUp, a low-code platform that helps businesses build and deploy IoT applications in a short duration of time, has raised $600K in a seed round from Silverneedle Ventures, Udyat Ventures, Lead Angels, GSF (an existing investor), and other angel investors.

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The investment will be used to double down on the product development, sales and operations teams, the company said in a press release. With this fundraise, ThingsUp will also launch two more solutions aimed at  solving electric vehicles (EV) OEM’s problems related to vehicle performance, diagnostics, and compliance.

Founded by Akshay J Ghadage and Pranav H Naiknavare, ThingsUp currently focuses on the electric vehicle mobility and cold supply chain logistics segment. It has built-in application templates for popular use cases such as EV monitoring, supply chain monitoring, telematics, logistics and asset tracking that businesses can deploy and go live within weeks.

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The startup claims to already have over 12,000 IoT nodes on its platform processing more than 1 terabyte of data every day. It counts over 30 enterprise companies including some of India’s largest EV OEMs as customers.

Early-stage tech-focused VC firm Silverneedle Ventures primarily focuses on pre-Series A/Series A rounds of companies focusing on B2B SaaS, deeptech, sustainability, D2C/consumer internet, and emerging technologies.  In October, the Hyderabad-based firm announced the launch of a Rs 100 crore worth new fund. It plans to invest in 30 startups in the next 18 months.

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Vishvajeet Kumar Gupta
Vishvajeet Kumar Guptahttps://marketmoney.in/
Vishvajeet Kumar is the Author & Co-Founder of the Marketmoney.in. He has also Appearing his graduation in Cadet Officer from Chennai . He is passionate about Blogging & Little-Bit in Banking.

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