Paperflite, a startup operating out of the NASSCOM startup warehouse in Chennai, has closed a $4,00,000 (₹2.55 crore) seed funding round with investors, led by The Chennai Angels.
The funds raised will be used to scale customer acquisition and product enhancement. The startup will be utilising the funds to venture into multiple industries and foray into newer geographies, including Singapore, Malaysia, Brazil and Mexico.
Ajit Kumar Chordia, promoter of Khivraj Motors and the Olympia Group, led the investment from The Chennai Angels (TCA). Other investors from TCA include Lakshmi Narayanan, vice-chairman Emeritus and ex-CEO of Cognizant, Girish Mathrubootham, founder and CEO of Freshworks, T. R. Santhanakrishnan, CEO of Datatracks, and Mithun Sancheti, CEO of Caratlane.
The round also saw participation from Like Mind Ventures, led by Krishnan Srinivasan, and an HNI group, led by Adrian Rusu from Singapore, both of whom join the board as observers.
Started by three former Cognizant employees — Vinoth Kumar, Yega Kumarappan and Anant Bhat, the startup helps marketing and sales teams share content with their prospects and track how they engage with it.
According to Vinoth, who co-founded Paperflite, “Today, content is everywhere. The number of channels are exploding and businesses are losing control over the amount of content they create, how they distribute to the right audience and measure how buyers are engaging with them. We built Paperflite so that marketing teams can drive smarter content marketing decisions and empower sales with relevant content contextualized to their sales opportunity.”
“Sales and marketing is witnessing a massive digital transformation to enable businesses create an engaging buying experience for their customers at every touchpoint. Paperflite team has experience to execute this mission,” Mr Lakshmi Narayanan said.
Paperflite is one of the startups housed at the startup warehouse in Chennai, where entrepreneurs are mentored and given co-working space for a particular period. In the long run, the warehouse intends to nurture nearly 200 entrepreneurs.
K.S. Vishwanathan, vice-president, Industry Initiatives, National Association of Software and Service Companies (NASSCOM), said, “To encourage new age innovation and entrepreneurship, NASSCOM continues to support disruptive technologies in the country. Paperflite is one such example.”
