The company intends to primarily utilize the freshly infused capital to expand its sales and marketing efforts across the target markets and strengthen its product suite.
“With increasing commodity costs, companies are getting more data-centric to increase the efficiency of their operations. Starting as a no-code operations management platform, we envision Grid as the essential operational layer that brings together people and device data to create ESG-focused operations,” Udit
, chief execuitve officer (CEO) & cofounder, Grid, said in a statement.
The Ranchi-based company said it will also focus on bringing in the right talent as it scales up, both within the company as well as its partner ecosystem.
Grid plans to launch the first marketplace for apps for operations management built in collaboration with industry experts in the second quarter. Operating across different markets, the company said it wants to expand its international footprint in the FY2022-23 and the consecutive financial year.
“Grid has demonstrated the ability to build a high performance business in under-served sectors such as mining and infrastructure, while at the same time developing easy-to-use technology that provides rapid ROI to their customers,” Jaideep Mehta, Lead Investor at IAN said.
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The other lead investors include KRS Jamwal, Pramod Jajoo, and Shalil Gupta.
In 2020, Grid received a seed funding of $150,000 from Singapore-based VC Startup-O Ventures.
