Matrix, Nexus lead seed round in Rocketlane; Synapsica bags Series A led by Endiya, IvyCap

Matrix, Nexus lead seed round in Rocketlane; Synapsica bags Series A led by Endiya, IvyCap
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23 Jun, 2021

B2B SaaS startup Rocketlane has raised $3 million in a seed funding round co-led by venture capital firms Matrix Partners India and Nexus Venture Partners.  

Shreesha Ramdas, CEO of Strikedeck; Jonathan Swanson, co-founder of Thumbtack; Chargebee co-founders Krish Subramanian and Rajaraman Santhanam; Yamini Bhat, CEO of Vymo; and Pradeep Rathinam, CCO of Freshworks; were among a clutch of high networth individuals who participated in the round, the company said in a statement. 

The Walnut, California based company was founded in April last year by Srikrishnan Ganesan, Vignesh Girishankar and Deepak Bala. The second-time founders previously managed Freshchat at SaaS company Freshworks, after the latter acquired their chat business Konotor (that powered chat in apps such as Zomato, Swiggy, Big Basket) in 2015. 

Rocketlane is building a unified workspace that enables customers to collaborate on onboarding projects. The platform claims to help businesses shorten their time-to-value, streamline their software implementation journeys and provide real-time visibility. 

“Conversations with 100-plus customer onboarding and implementation leaders highlighted challenges arising from generic project management and collaboration tools. The feedback has helped us shape Rocketlane, set the course for the future, and even start Preflight -- a Slack-based community for CS and Onboarding professionals,” CEO Ganesan said.  

The company currently has a team 25 people and plans to add to the team following the seed round, it said. 

“Rocketlane's offering allows software and ITES companies to accelerate their time-to-revenue, intelligently manage their client delivery lifecycle with superior internal resource management on a unified workspace and massively increase customer satisfaction across every client delivery action item,” Nexus managing director Sameer Brij Verma said. 

Separately, Bengaluru based healthcare startup Synapsica raised $4.2 million (Rs 31.19 crore) in a Series A round backed by venture capital firms IvyCap Ventures and Endiya Partners. 

Silicon Valley-based incubator Y Combinator and other angel investors participated in the round, it said in a statement on Wednesday. 

Founded in 2018 by Meenakshi Singh, Cherian Dr and Kuldeep Singh Chauhan, Synapsica aims to utilize artificial intelligence (AI) to improve insights from radiology reports. It provides an integrated platform to use AI for automation of both clinical and back-office tasks in radiology. 

The funding will be utilized for overseas growth and to expand its suite of AI features for radiologists and spine specialists.  

Synapsica’s offering, called Radiolens, enables radiologists and clinicians to gather reports with illustrations and objective evidence of the disease in question, thereby brining better patient care to the market.  

The company has raised three funding rounds so far. The last was an undisclosed round in December last year from World Bank arm International Finance Corporation and venture capital firm Stellaris Venture Partners.