This Week In The SaaS Universe- Updates & Highlights With SpotSaaS Weekly Roundup
Latest Funding News
Leading Ed-Tech Tech Startup – Toddle Raises $17 Million
| Company Name | Toddle |
|---|---|
| About the company | An ed-tech startup, the goal of Toddle is to empower 60 million K–12 educators worldwide in their efforts to provide students with relevant and individualized learning opportunities. |
| Founder Name | Deepanshu Arora, Gautam Arora, Misbah Jafary, Nikhil Poonawala, and Parita Parekh |
| Fund raised | $12 million |
| Investors | Sequoia Capital India led the investment, which also included current investors Matrix Partners, Beenext, and Better Capital, as well as Tenacity Ventures and Trifecta Capital. |
| How will the company use the money | Toddle plans to expand into other curricula and is developing a learning management system for preschool-level educators |
Actyv.ai- leading enterprise SaaS firm raises a huge $12 million funding
| Company Name | Actyv.ai |
|---|---|
| About the company | B2B Buy Now Pay Later (BNPL) and insurance products embedded enterprise SaaS platform |
| Founder Name | Raghunath Subramanian and Ramkumar Thirumurthi |
| Fund raised | $12 million |
| Investors | Funding round led by 1Digi Ventures. |
| How will the company use the money | For international growth, product improvement, portfolio development, and talent acquisition. |
Leading Canada based startup – Nanoprecise Raises $10 Million in Series B
| Company Name | Nanoprecise |
|---|---|
| About the company | With a combination of AI + IoT + LTE driven seamless monitoring, cutting-edge sensors, and prescriptive diagnostics, Nanoprecise’s predictive maintenance solutions aim to produce positive outcomes from day one. |
| Founder Name | Sunil Vedula |
| Fund raised | $10 million |
| Investors | The round was led by Export Development Canada (EDC), with participation from Honeywell Ventures, NSK Ltd., and EC Mergers & Acquisitions. |
| How will the company use the money | Strengthening the company’s delivery capabilities and product offerings in the area of energy efficiency and condition monitoring solutions. |
Coho AI- raises $8.5M- helping SaaS businesses increase revenue through AI & ML.
| Company Name | Coho AI |
|---|---|
| About the company | Coho AI is a product-led revenue optimization platform that Itamar Falcon and Michael Ehrlich founded to assist companies through AI & ML, particularly software-as-a-service (SaaS) companies, in accessing insights for upselling. |
| Founder Name | Itamar Falcon, Michael Ehrlich, & Ariel Maislos |
| Fund raised | $8.5 million |
| Investors | Eight Roads, TechAviv and angel investors |
| How will the company use the money | Product R&D and growing workforce, which has 17 employees as of now. |
Trezi- first fully immersive virtual reality platform for the construction industry raise $2 million
| Company Name | Trezi |
|---|---|
| About the company | Trezi is the first fully immersive virtual reality platform for the construction industry in India. By bringing together all project stakeholders to review, modify, and experience the design within an immersive environment – in real-time and at full scale and color – regardless of the users’ physical location, Trezi dramatically transforms design collaboration and communication experience. |
| Founder Name | Gautam Tewari, Tithi Tewari |
| Fund raised | $2 million |
| Investors | World V Fund, YourNest Venture Capital |
| How will the company use the money | The company will utilise the funds to accelerate its platform development in the metaverse and its entry into high-potential new geographies. |
Mergers & Acquisitions
Godspeed Capital-Backed SilverEdge Acquires QVine
Godspeed Capital Management-backed SilverEdge Government Solutions, a provider of cybersecurity, software, and intelligence services to the U.S. defense and intelligence communities, has acquired QVine LLC, a company that offers agile software development, cloud services, and software-as-a-service to the nation’s intelligence agencies.
IGP-Backed APCT Acquires Advanced Circuits
ACI and APCT signed into a binding contract on January 10, 2023, under which APCT will buy ACI. The transaction is anticipated to close in February 2023, subject to standard terms and circumstances, including regulatory approval. ACI will function as an entirely owned subsidiary of APCT after the merger.
LVC-Backed Pinnacle Merges with STRI
Headquartered in Edinburg, Texas, South Texas Research Institute (STRI) is a multi-location clinical site organization focused on indications including hepatology. They recently merged with Pinnacle Clinical Research, a site organization focused on therapeutic areas and a portfolio company of LongueVue Capital (LVC).
SaaS News Of The Week
PCB Stator Technology- Pivots from deep tech startup to a SaaS company in 2023.
Massachusetts-based firm called ECM PCB Stator Technology is committed to altering how inventors connect with electric devices. They contend that designers and engineers shouldn’t be forced to select motors from a list of predetermined frame sizes, speeds, and torques. They are providing a design software platform that enables access to optimized, application-specific PCB Stator motors.
The company initially saw this as a hardware barrier before realizing that software holds the key to addressing the demand for next-generation electric motors. They changed to a SaaS model as a result.
Environmental health and safety software is now a hot commodity
Environmental health and safety software hasn’t historically had a sizable market, at least not in comparison to others in the software-as-a-service sector. It’s also not the most exciting startup. However, according to a recent survey by the research firm Verdantix, however, that is altering.
The EHS software industry has more than 50 transactions in the previous two years, according to Verdantix’s Green Quadrant: EHS Software 2023 survey, projects that market will increase from $1.6 billion in 2022 to roughly $2.7 billion by 2027.
Listen To SaaS Podcast
Whatfix: 7 Steps to Finding Our SaaS Go-To-Market Fit – with Khadim Batti
In this episode, Khadim Batti is the co-founder and CEO of Whatfix, a Digital Adoption Platform (DAP) talks about 7 challenges the founders had to overcome, the lessons they learned, and how they were eventually able to drive predictable sales growth.
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