VenWiz raises $3 million seed funding

Bengaluru: VenWiz, a business-to-business (B2B) platform focused on industrial services, has raised $3 million (about Rs 21.8 crore) in a seed fundraising exercise.

The funding round in VenWiz has been led by Accel India and Nexus Venture Partners, it said in a statement. Other participants include Titan Capital, Five9 executive Anand Chandrasekaran and former Reliance executive Rajendra Singh Mehta.

Bengaluru-based VenWiz, operated by VenWiz Technologies Pvt. Ltd was set up last year by Rajesh Reddy and Sandesh Paturi, who has worked at companies and firms including ITC Ltd, McKinsey, Dupont, and Capillary.

“Service vendors play a strategic role in the success of a manufacturing unit for driving scale of production or efficiency. Yet, their journeys, in combination with shop-floor managers, have not changed for long and remained digitally underserved,” Reddy said.

The company will use the capital it has raised for talent acquisition, enhance its technological infrastructure and expand its business.