Startup with usage-based billing Flexprice has raised $1.5 million in a seed funding round headed by Shastra VC and involving TDV Partners and People Group founder Anupam Mittal.
The additional funds will be utilized to develop products beyond billing, such as metering, revenue recognition, and financial reporting tools, and to expand in the US and Europe.
Flexprice was established in 2024 to provide open-source billing infrastructure for businesses that prioritize APIs and AI. AI companies are using its platform to handle billing for GPU hours, token usage, API calls, and hybrid pricing models.
The company claims that its event processing volume increased 20X over the previous year to over 20 billion events per month, while its revenue increased 6X in the most recent quarter.
The company has teams in Bengaluru and San Francisco in addition to its New Delhi headquarters.
A $100 million fund dedicated to early-stage startups in deeptech, artificial intelligence, climate tech, spacetech, defense, and renewable sciences was recently launched by venture capital firm Shastra VC (formerly Veda VC).
