NymbleUp, an AI-based SaaS platform for operations automation and workforce management, today announced that it has raised Rs 3 crore amount in a seed funding round led by Mumbai-based IvyCap Ventures. The round also saw participation from a prominent business leader.
Founded by a team of engineers with hands-on experience in retail and technology Yogesh Bhatt, Chief Executive Officer, Manish Thakur, Chief Technology Officer, Alhad Pofali, Chief Product Officer, NymbleUp was started with a vision to change the retail industry by automating decision-making in key aspects of retail operations using Artificial Intelligence.
The platform helps in managing the cost of labour while ensuring customer service and statutory guidelines are followed. Additionally, NymbleUp also offers solutions for digitizing store tasks, audits, and expiry management.
The new fund-raised will support NymbleUp in the expansion of its team, allowing them to bring on talent and sector expertise. NymbleUp also has plans to enhance its technology to go deeper into current offerings with a focus on providing best-in-class user experience across all stakeholder touchpoints. The funds will also be used to develop inroads into the US and South East Asia market
Talking about their plan to utilise the raised fund, Yogesh Bhatt, CEO of NymbleUp, said, "This seed funding will enable us to accelerate the growth of NymbleUp, expand our team and explore new markets. Our goal is to become the leading B2B SAAS platform, helping businesses improve their efficiency and productivity across their operations.”
Speaking about the investment, Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors, said “Post-COVID, resource management in retail outlets has become one of the most complex issues in India and Globally. NymbleUp uses its advanced AI-based forecasting to provide services to improve efficiency in the operations and management of resources in retail outlets.”