T-Hub co-invests in Hyderabad based Bluecopa, firm raises USD 2.3 million
T-Hub 2.0 has co-invested in a Hyderabad-based startup, Bluecopa, which helps companies with Funding Operations.
HYDERABAD: T-Hub 2.0, India's largest innovation ecosystem, has co-invested in a Hyderabad-based startup, Bluecopa, which helps companies with their Finance Operations.
The co-investment was made through T-Fund along with Blume Ventures and other notable investors like Titan Capital, Speciale Invest, Bharat Founders Fund, T2D3, Amplify, and Force Ventures in a seed funding round. The company raised USD 2.3 million in this seed funding round. Also joining the funding round were seasoned entrepreneurs Krish Subramanian, Rajaraman Santhanam, Founders of Chargebee, Rohit Chennamaneni, Founder of Darwinbox, Asad Khan and Jay Singh, Founders of LambdaTest.
In addition to the funds, T-Hub, through T-Fund, would support Bluecopa with its market entry and go-to-market strategy efforts by connecting them with mentors and industry experts. The startup will also gain access to T-Hub's robust innovation ecosystem to engage with potential clients, corporate and investor connections. The capital raised would be used to enhance the platform's capabilities, hire talent, and grow the company's consumer base. Bluecopa caters to enterprises across the globe with a vision to free up finance teams and empower them to focus on strategic finance.
T-Fund was primarily a Co-Investment Fund, which invests alongside established Angels, Angel Networks, and venture capitalists. T-Hub is the Investment Manager and would formulate investment and business development strategies for this fund. It would source startups from various sectors, including but not restricted to Information Technology, Cleantech, Agritech, Fintech, Healthtech, Logistics, Artificial Intelligence (AI), Machine Learning (ML), Internet of Things, Augmented Reality (AR), Virtual Reality (VR), Hardware, Blockchain, and Consumer tech.
T-Hub recently disbursed USD 189K to three startups through T-Fund and will continue to curate and work on funding initiatives like these along with the government's support.
CEO of T-Hub, Srinivas Rao Mahankali (MSR), said, "We are thrilled to support the team and vision of Bluecopa through our funding initiatives, enabling them to empower the finance leaders to make informed business decisions faster. We believe that Bluecopa has an incredible opportunity to transform the Fintech landscape with its powerful automation solution, enabling finance teams to focus not just on business growth and on accelerating it. Moreover, with the passionate founding team, growth trajectory and market position, it has significant potential to scale in the global market."
Co-founder of Bluecopa, Satya Prakash, said, "With the proliferation of SaaS tools across organisations, real-time business observability is fragmented for finance teams, which means data to decision cycles are significantly high and error-prone. As a result, there is an increasing dependency on data teams, expensive and complex tools, and clunky Excel spreadsheets to understand business drivers. This is a hair-on-fire problem, particularly in high transaction volume industries such as e-commerce, logistics, financial services etc. Solving these aspects can increase sales by 20 per cent and profitability by 30 percent. Bluecopa supports the 10 million finance community across the globe to significantly reduce time to decision cycles and focus on the numbers that matter."
Anirvan Chowdhury, Vice President of Blume Ventures, added, "Having the right financial observability and signals is mission critical for companies with high transaction volumes in today's age. We loved Bluecopa's data-infra-focused approach to solving this critical problem for finance teams, which will be their key differentiator. With Satya having deep expertise in building a strong data infra product and getting a sizable exit to Apple, Neel's strong credentials as an enterprise sales maestro, and Raghava's hands-on experience in finance, we couldn't have asked for a better team to solve a problem that every industry across all geographies is grappling with."