The B2B startup Data Sutram has received a funding of $3Mn in Series A Round led by Bharat Fund. The investment round also saw participation from Singularity Growth Funds and existing Indian Angel Network, Indiainfoline, White Venture Capital among others.
The SaaS provider has stated that it will utilise the funds to expand its outreach to new markets and grow its product base.
Speaking on the development, Data Sutram Cofounder and CEO Rajit Bhattacharya said, the fresh funds will be used to offer our services in the banking sector across new and emerging countries such as the Gulf countries and Southeast Asean region.
He mentioned that Data Sutram in the present time offers three products- DS Find, DS Authenticate, and DS Grow. The startup in its portfolio claims to offer its services to 50 enterprises in India, of which 20 are large financial institutions.
In an aim to extend to other branches, Data Sutram is developing a product that would cater to collection and other dimensions of bank.
In the past year, Data sutram clinched a funding of $2.07 Mn in a round led by Varanium Capital and Yatra Angel Network to expand into new geographies and sectors. So far, the startup has managed to raise $6Mn funding to today.