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By July 27, 2021 Media

Nektar.ai raises USD 2.15 mn in seed funding

New Delhi, Nov 9 (PTI) B2B sales productivity start-up Nektar.ai on Monday said it has raised USD 2.15 million (about Rs 16 crore) in seed funding, led by Nexus Venture Partners with participation from Insignia Venture Partners, Arka Venture Labs, Better Capital and Vietnam Investments Group.

A clutch of individual investors like Anand Chandrasekaran (Five9 EVP), Ganesh Lakshminarayanan (CEO of Airtel”s Enterprise Business), Vinod Muthukrishnan (Chief Growth Officer, CCBU at Cisco), Venkat Tadanki (ex-founder/board member at IBM Daksh) and Aneesh Reddy (Capillary Technologies co-founder and CEO) also participated in the seed funding round, a statement said.

Nektar.ai was founded earlier this year by Abhijeet Vijayvergiya and Aravind Ravi Sulekha.

With over 40,000 business-to-business (B2B) sales teams globally and over 15 million sales professionals, the opportunity for the B2B sales productivity market is around USD 8-10 billion and growing.

Nektar”s founding team has been initially working in stealth mode with a select list of early adopters and now plans to use the seed funding to further build out its platform and ramp up the engineering and product teams, the statement said.

It plans to open up its highly anticipated early access program for general availability later next year, it added.

In the last decade, the investment in sales tools globally has grown by five times, but the average sales quota attainment has fallen 40 per cent, Nektar.ai co-founder and CEO Vijayvergiya said.

He added that Nektar.ai is building an artificial intelligence-driven sales productivity solution that will help the go-to-market revenue teams to seamlessly collaborate and make more sales representatives successful in meeting their quota. PTI SR RVK

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