Manch Technologies raises $1.1M in pre-Series A round
Manch Technologies, a SaaS-based zero-coding digital transformation platform, announced that it has closed a $ 1.1 million pre-Series A round led by Bharat Inclusion Seed Fund with participation from Pentathlon Ventures.
The Bengaluru-based startup had earlier raised funds from lead angel investor Asvini Kumar and his associates.
As per an official statement, the startup plans t use the freshly raised funds for ramping up its growth internationally and product development initiatives.
Manch is also looking to recruit professionals in business development and marketing and intends to significantly boost investment across marketing, sales, and customer support functions as it prepares to scale.
Speaking about the funding, Suresh Anantpurkar, Founder and CEO, Manch, said, “The zero-coding, rapid implementation platform by Manch ensures that our clients concentrate on the core business, while we bring in the efficiencies by reducing costs and TAT by facilitating a self-service paperless, contactless environment.
“The platform has been very well received by our customers due to the value they have seen in our offerings. The investment from Bharat Inclusion Seed Fund and Pentathlon Ventures further validates our product vision. We believe their experience as first-generation entrepreneurs and expertise in developing complex scalable solutions, will provide Manch the required guidance and enable access to the market and network.”
The API-rich, zero-coding platform enables to achieve accelerated implementation, facilitating a paperless, contactless, cashless business environment.
Commenting on the investment, Saras Agarwal, Principal at Bharat Inclusion Seed Fund, said, “Partner lifecycle management is an area that is still largely manual, paper-driven and remains a void left by most enterprise applications. Manch offers scalable technology architecture to enable organizations to reduce chaos in dealing with external stakeholders, allowing them to efficiently conduct transactions in a ‘cash-less, presence-less, paperless’ framework.
“We are really excited to partner with Suresh and team; the no-code platform Manch has built allows any organization to bring in efficiency in various areas of their dealing with the partners, the tool has multiple applications ranging from partner/vendor onboarding, compliance, reconciliation, and fraud minimization. We are vowed by the list of the marquee clients Manch has been able to attract within a short period of time.”
“Given our own background in B2B technology, Manch is exactly the kind of company Pentathlon would like to partner with. Disruptive technology developed by Manch has improved outcomes for the enterprises, enterprises are using Manch across multiple business units, hence creating stickiness,” said Shashank Deshpande, Managing Partner at Pentathlon Ventures.
Manch Technologies seems to have established a strong presence in not just India but also abroad. I’m sure the company will soon emerge as a leading market player. My best wishes to the team of Manch Technologies.Shishir Gupta, Founder and CEO, StartupLanes
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