Total amount raised
$88.3 Million
Latest funding date
02/01/2025
Location
ToneTag has successfully raised funds over 6 rounds, with the latest being a Series B round. The company is backed by 16 investors, including ValueQuest Investment Advisors and Elevate Innovation Partners.
Keep reading to explore the intricacies of ToneTag's fundraising journey and the investors backing this innovative platform.
What Is ToneTag?
ToneTag is a digital payments startup based in Bangalore, Karnataka, India. The company specializes in developing a mobile payment platform that offers cashless and contactless payment services. It operates in various industries, including E-Commerce, Financial Services, FinTech, Mobile Devices, and Mobile Payments.
Founded in an unspecified year, ToneTag employs between 11-50 people. The company is known for its innovative payment solutions, such as Proximity Payments, Agentic AI Payments, and IoT Payments, which enhance customer engagement and streamline payment processes.
How Much Funding Has ToneTag Raised?
- Series B
- Amount Raised: USD 78,000,000
- Date: February 2025
- Lead Investors: Iron Pillar, ValueQuest Investment Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations, advance R&D efforts, recruit quality talent, and enhance marketing initiatives. Additionally, ToneTag aims to expand its market reach to new regions in Asia, South America, and the Middle East.
- Secondary Market
- Date: February 2025
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Corporate Round
- Amount Raised: USD 8,000,000
- Date: May 2018
- Lead Investors: Amazon
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand market presence.
- Series Unknown
- Amount Raised: USD 1,330,000
- Date: January 2018
- Lead Investors: Tropical Star Limited
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and product development.
- Seed
- Date: November 2016
- Lead Investors: 3one4 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and enter the market.
- Seed
- Amount Raised: USD 1,000,000
- Date: August 2015
- Lead Investors: Reliance Capital, Reliance Venture Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and build the core team.
Total Amount Raised: USD 88,330,000. Current Valuation: Not publicly disclosed.
Key Investors
- ValueQuest Investment Advisors
- Details: ValueQuest Investment Advisors is a prominent investment firm that led ToneTag's Series B funding round. Pushkar Jauhari is a partner associated with the firm.
- Investment Focus Areas: Technology, Financial Services, Consumer Goods
- Notable Investments: ToneTag (Series B)
- Iron Pillar
- Details: Iron Pillar is a venture capital firm that has been tracking ToneTag since 2017 and participated as a lead investor in the Series B funding round.
- Investment Focus Areas: Digital Payments, Technology, FinTech
- Notable Investments: ToneTag (Series B)
- Amazon
- Details: Amazon is a global e-commerce and technology giant that invested in ToneTag during its corporate funding round in 2018.
- Investment Focus Areas: E-Commerce, Cloud Computing, Artificial Intelligence
- Notable Investments: ToneTag (Corporate Round)
- Tropical Star Limited
- Details: Tropical Star Limited is an investment firm that participated in ToneTag's Series Unknown funding round in 2018.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: ToneTag (Series Unknown)
- 3one4 Capital
- Details: 3one4 Capital is a venture capital firm that invested in ToneTag during its seed funding round in 2016.
- Investment Focus Areas: Technology, FinTech, Consumer Internet
- Notable Investments: ToneTag (Seed)
What's Next for ToneTag?
With a fresh infusion of $78 million from its Series B2 funding round, ToneTag is poised to scale its operations and advance its R&D efforts. The company aims to expand its market reach into new regions in Asia, South America, and the Middle East, capitalizing on the rapid growth in digital payments and the increasing adoption of voice-based technology.
Future fundraising opportunities seem promising, given the successful Series B2 round and the company's ambitious expansion plans. However, ToneTag may face challenges such as competition in the fintech space, regulatory hurdles in new markets, and the need to ensure the stability and scalability of their technology as they grow globally.
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