Total amount raised
$8 Million
Latest funding date
12/1/2021
Location
TranZact has successfully raised funding over two rounds, with the latest being a Series A round involving 13 investors, including Tribe Capital and Gemba Capital. The platform offers a comprehensive suite of digital transformation tools designed to streamline operations for small and medium-sized enterprises, particularly manufacturers.
Keep reading to explore the intricacies of TranZact's fundraising journey and the investors backing this innovative platform.
What Is TranZact?
TranZact is a digital transformation tool designed to streamline operations for small and medium-sized enterprises (SMEs), particularly manufacturers. Based in Mumbai, Maharashtra, India, the company operates in multiple industries, including B2B, Enterprise Software, FinTech, Procurement, and Supply Chain Management.
Founded by a team of IIT and IIM graduates, TranZact offers a comprehensive suite of tools for inventory management, production management, and other business process automation. The company has a workforce of 11-50 employees and is on a mission to digitize Indian SMEs to help them grow better.
How Much Funding Has TranZact Raised?
- Seed Round
- Amount Raised: USD 1,000,000
- Date: July 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their digital transformation tools for SMEs.
- Series A Round
- Amount Raised: USD 7,000,000
- Date: December 2021
- Lead Investors: Tribe Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To onboard one million SMEs in the next year and expand the team across all verticals.
Total Amount Raised: USD 8,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Tribe Capital
- Details: Tribe Capital is a San Francisco-based venture capital firm that led TranZact's Series A funding round. They focus on identifying and investing in high-growth technology companies.
- Investment Focus Areas: Technology, SaaS, high-growth startups
- Notable Investments: Not publicly disclosed
- Prime Venture Partners
- Details: Prime Venture Partners is a venture capital firm that participated in TranZact's Series A funding round. They typically invest in early-stage technology companies.
- Investment Focus Areas: Early-stage technology, SaaS, fintech
- Notable Investments: Not publicly disclosed
- Gemba Capital
- Details: Gemba Capital is a venture capital firm focused on early-stage investments. They were one of the investors in TranZact's Series A funding round.
- Investment Focus Areas: Early-stage technology, innovation, startups
- Notable Investments: Not publicly disclosed
- Kae Capital
- Details: Kae Capital is an existing investor in TranZact, known for investing in early-stage companies across various sectors. They continued their support in the Series A funding round.
- Investment Focus Areas: Early-stage companies, technology, diverse sectors
- Notable Investments: Not publicly disclosed
- Suhail Sameer
- Details: Suhail Sameer is an individual investor associated with BharatPe. He participated in TranZact's Series A funding round.
- Investment Focus Areas: Fintech, technology, startups
- Notable Investments: Not publicly disclosed
What's Next for TranZact?
TranZact is poised to capitalize on the burgeoning global ERP software market, projected to reach $71.63 billion by 2026. With plans to onboard one million SMEs in the next year, the company aims to expand its team and innovate its product offerings. This ambitious growth strategy aligns with industry trends favoring digital transformation and automation among SMEs.
Future fundraising opportunities seem likely as TranZact scales its operations and seeks to maintain its competitive edge. The company may attract further investment to support its expansion and technological advancements. However, challenges such as competition from other ERP providers and the complexity of managing rapid growth could pose significant hurdles.
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