Adya.ai raises INR 10.5 Cr in pre-series A Round by IAN & others
New Delhi, Jan 18 th 2024: Adya.ai, a digital commerce & technology solution provider, has raised INR10.5 crores in its pre-series A funding round. The round was led by Indian Angel Network’s investors Uday Chatterjee, Romesh Sobti, Sri Prakash, and Hari Balasubramanian. Out of the entire money, INR 3.75 Cr has been raised by the Indian Angel Network (IAN). Other strategic investors also participated underscoring the widespread industry belief in the company’s trajectory.
Adya.ai represents a convergence of diverse expertise and visionary leadership. Founded in May 2023 by Shayak Mazumder, CEO and CTO, Archana Mazumder, COO, and Angad Singh Ahluwalia, CBO. Together, they lead Adya.ai’s charge toward reshaping India’s digital landscape. This latest infusion of capital will empower Adya.ai to further enhance its innovative solutions, strengthen its market presence, and accelerate the development of groundbreaking AI technologies.
Adya.ai goes beyond being a startup; it acts as a catalyst for India’s digital transformation. As the Technology Service Partner for ONDC, Adya.ai is at the forefront of a monumental implementation across key sectors such as retail, mobility, F&B, logistics, credit, insurance, and finance. The company envisions a connected, inclusive digital ecosystem that redefines commerce in India.
Adya.ai’s Founder, Shayak Mazumder, commented: “ONDC stands as a testament to India’s digital prowess, following the impactful implementation of the Unified Payments Interface (UPI) and Aadhaar. We at Adya.ai are thrilled to harness our technological expertise to contribute to this transformative force, fostering a digital ecosystem that is not only inclusive but truly transformative for India’s economy.”
Adya.ai’s technology marketplace has facilitated over 10 large enterprise contracts, including collaborations with Canara Bank, Aditya Birla Financial Limited, Hindustan Unilever, and others. With a focus on sectors like CPG, financial services, retail, and mobility, Adya.ai is poised to reshape the digital landscape for major enterprises.
Padmaja Ruparel, Co-Founder at IAN, said “Adya.ai has demonstrated exceptional capabilities in the field of artificial intelligence. We are impressed with their vision, leadership, and the impact their solutions are making. IAN is proud to lead this funding round, and we look forward to supporting Adya.ai on their journey towards greater success.”
Uday Chatterjee, Angel Investor & Business Leader, said “Adya.ai is a pioneer providing ONDC ATMA (Atmanirbhar Technology Marketplace by Adya.ai) – an end-to-end solution built on the ONDC protocol across four domains (retail, logistics, financial services and mobility) in the form of a self-serve app studio that will enable enterprises to create their own Apps on ONDC, customise design and UX, manage cloud, security and access controls, integrate inside their existing apps and connect to their existing tech stack. ONDC is the next master protocol or Digital Public Good which is likely to see explosive growth in the next few years. Adya.ai is ideally positioned to benefit from this growth and has already onboarded a number of public and private sector banks, fintechs and large consumer goods companies as their clients. We are delighted to support Adya.ai in the current fundraising and we hope to energise India’s digital story through Adya.ai.”