Nektar.ai raises $6 million as part of second tranche of its seed round


Nektar.ai, a business to business (B2B) sales productivity startup, has raised $6 million as part of the second tranche of its seed round, from investors led by B Capital Group, 3One4 Capital and Nexus Venture Partners.

This takes its total funding in the seed round to $8.1 million, making it one of the biggest such rounds for a Software as a Service (SaaS) startup in the region.

The one-year-old company will use the funds to accelerate product development and hire talent for its core team across product, engineering, and go-to-market functions, it said in a statement.

Founded by Abhijeet Vijayvergiya and Aravind Ravi Sulekha, Nektar.ai had raised $2.15 million, led by Nexus Venture Partners in November last year.

Angel investors such as Amit Midha (President, APJ at Dell), Ritesh Agarwal (founder and CEO, Oyo Hotels), Kevin Merritt (ex-President, Data & Insights – Tyler Technologies), Evan Davidson (VP, APJ at SentinelOne), Deep Nishar (Senior Managing Partner at SoftBank), and Tom Donlea (VP & GM – APAC, EKATA) also participated in the round.

The company’s AI-powered guided selling solution sits adjacent to CRM systems like Salesforce. It captures buyer/seller data scattered across sources such as email, calendar, web conference, and communication.

The company has been in stealth mode to date, working with select customers in India and the US in private beta. It plans to come out of beta and launch the product for general availability in the first half of 2022.

Last year, B2B selling and buying changed fundamentally.

“Modern, fast-growing distributed teams work in data silos and operate many disconnected sales and marketing tools. This leads to problems like poor visibility into the revenue data, accountability gaps across revenue function, inconsistent playbook adoption and lack of collaboration within revenue teams, making it harder to create a repeatable sales process and a predictable revenue engine,” said Vijayvergiya, cofounder and CEO, Nektar.ai.

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SaaS has been
one of the biggest beneficiary sectors in the last two years, with risk investors rushing in to back such companies.

“Nektar.ai’s solutions provide great value to distributed revenue teams, which is even more important as enterprises conduct further business across global markets,” said
Gabe Greenbaum, General Partner of B Capital Group.



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