Zeda.io, on Thursday announced raising USD 1.6 million pre-Series-A round from existing investors BEENEXT, Paradigm Shift Capital, Goenka family group-led Radiant SFO, along with a slew of reputed angel investors. The funds raised will be used for business expansion across North America and Europe, as well as for hiring across teams — Product, Engineering, and Business.
The company aims to simplify the complexities involved in product management — a role that is critical for almost every company in the world. The startup announced it has rolled out its live platform globally and currently has customers across India, Europe, North America, Southeast Asia and the Middle East.
The Zeda.io team worked closely with these customers to understand the product management challenges and develop the right product to address them. The platform came to life after an intense development phase that spanned a year in beta. Zeda.io leveraged a unique build-with-community approach by engaging over 6,000 product managers (PMs) from around the world to get regular feedback and suggestions, thereby building a market-ready and timely product for users globally from the get-go.
Zeda.io plans to build machine learning models which can automate, optimise and analyse products — a feature that is currently not available on any product management tool in the market.
“We are truly excited to go live with our product and unlock innovation among companies and PMs by simplifying product management. The funds will help us scale as well as accelerate our growth plans as we move to the next phase. This achievement wouldn’t be possible without the support of the fantastic 6,000+ PM community we have built along with our core team. We are grateful for the support of our repeat and new investors as we work together on Zeda.io’s vision of redefining and simplifying Product Management,” said Prashant Mahajan, Founder, Zeda.io.
Hero Choudhary, Managing Partner at BEENEXT, remarked, “Zeda.io is working closely with the community in building and refining its product since very early days. The team has identified the pain points of PMs around the world and succeeded in building a truly unique global product. We are excited to be on the company’s journey from Day zero and look forward to watching the team achieve more milestones.”
“With Zeda.io, all our stakeholders are on the same page. It is the perfect tool for Product Managers to have their team aligned on the business vision,” said Snehasri Purama, Senior Product Manager at Sprinque.