Faclon Labs raises Pre Series A funding

Mumbai: Faclon Labs, an internet-of-things (IoT) and data management startup, has raised an undisclosed sum in a pre-Series A round of funding.

The company has raised this capital from LetsVenture, with Group Satellite managing director Sarjan Shah leading the round.

Prior to this, it raised angel funding in 2018 from Brand Capital director Vish Sathappan and Bennett, Coleman and Co Ltd response director Sameer Sainani.

Faclon Labs was set up in 2016 by Archit Naraniwal, Rishi Sharma, and Utkarsh Narain. The company says its platform helps firms make their infrastructure and assets more efficient as well as self-learning and responsive.

It will use the capital it has raised to support product development and further expand its team, as well as make customer acquisitions in markets such as Malaysia, the United Arab Emirates, and Bahrain.