Gurgaon based retail tech start-up FieldAssist has secured a successive round of debt funding from SIDBI. The undisclosed funding amount will be used for the R&D of introducing AI and ML in the existing FieldAssist platform. FieldAssist received its first round of Rs 50 lakh from SIDBI itself in 2015.
Earlier this year, FieldAssist has been considered by FaceBook for its FbStart program in Bootstrap Track. In addition, FieldAssist was also part of DST (The Department of Science and Technology), Government of India (GOI) and Global Venture Alliance (GVA) sponsored ‘India Russia Bridge for Innovations’ (IRBI) accelerator program in 2016 in Russia. The select start-ups were in the areas of medical devices and applications, energy, IoT, Education technology and retail technology.
Backed by CIIE, FieldAssist is a leading sales force automation suite used by over 15K sales persons in retail industry comprising clients from retail industry including RJ Corp, Everest Spices, Del Monte, Raymond, Mahindra and Mahindra, Alkem Laboratories.
FieldAssist is founded by its parent organization Flick2Know Technologies in 2014 with selection in 9th batch of Start-up Chile and the seed grant of $40K. The founding team comprises of graduates from IIT Dhanbad, Apurv Gupta, Divir Tiwari, Nikhil Patwari, Peeyush Jain and the CEO Paramdeep Singh who has wide experience in FMCG domain.
Commenting on funding, Paramdeep Singh, CEO said “The rate at which retail industry is growing in India, it is imminent for companies to adapt new technology to streamline operations and thus FieldAssist is witnessing the exponential growth at present. We’re investing a lot in enabling AI in the existing platform while will pave way to a new sales mechanism giving more power to salespersons.”