AI-powered VuNet raises $5 million in Series A round led by Mela Ventures and Athera Venture Partners

artificial intelligence service company VuNet Systems, has raised $5 million in a Series A funding round led by Mela Ventures and Athera Venture Partners (formerly Inventus India). Dallas Venture Capital and TVS Capital Funds also participated in the round.

The company will focus on expanding customer growth and its existing product base, it said in a statement.

vunet Systems, co-founded by Ashwin Ramachandran, Bharat Joshi and Jithesh Kaveetil, who have almost 20 years of experience in the deeptech space.

Today, several large financial institutions use the platform to provide real-time visibility into financial transaction journeys, such as instant payments, loans, etc., to the tune of 9 billion transactions per month.

Detailed, real-time visibility into the customer and business journey is quickly becoming a key differentiator between realizing or losing digital dreams. VuNet’s AI-based observability platform provides that missing intelligence for enterprises,” said Krishnakumar Natarajan, Managing Partner at Mela Ventures.

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