SRI Capital, a seed funding VC firm launched by Sashi Reddi, has invested $1.3 million in two SaaS-based startups – Yellowdig and Zuppler. With this funding round, the VC firm’s total investment reaches 23.
Both the companies – Yellowdig and Zuppler are now planning to use the newly raised funds to scale up and roll out their products in global markets.
Out of 23 companies in which SRI Capital has invested, 15 of them are offering software-as-a-service. Sashi Reddi believes that enterprise software startups are going to be the new wave in the market, and rightly so. He says,
We need to realise that the Amazon of India will be Amazon. Indian consumer startups need to deliver offerings or adopt business models that are unique to this country. There are also opportunities in enterprise software where product fit can be tested out in India and then taken to overseas markets.
Yellowdig is headquartered in the US and based out of Pune. It has created a course collaboration software that universities can use as a complement to their current learning management systems. Its list of clients includes University of Pennsylvania, Northwestern and Duke University, among others.
Shaunak Roy, CEO of Yellowdig, said,
I am excited to have Sashi join in as one of our investors. We are experiencing rapid growth of our SaaS platform in higher education in the US, and we see a lot of potential to grow in the adjacent K-12 and corporate e-learning markets.
Founded in 2008 by Shiva Srinivasan, Zuppler is the complete order fulfillment platform servicing restaurants, caterers, groceries, sports stadiums, hospitals, hotels, delivery services etc.
It targets independent restaurant owners to help them streamline all the technologies through the Zuppler platform and take control of all their online customers.
Restaurant’s can integrate online ordering directly on their website using Zuppler API’s. Users will remain on the restaurant website while ordering online and will not be redirected to an external website.
Earlier this month, SRI Capital had invested $1 million in another SaaS company – WorkApps, which has developed a work management system. It also plans to use funds to expand its presence globally.