The AI-based business journey observability provider VuNet Systems announced that it has raised Rs 60 crore in a Series B round. With funding from Kotak Securities Limited (KSL), it was spearheaded by Pravega Ventures and involved all of the current investors, including Mela Ventures, Athera Venture Partners (formerly Inventus India), Dallas Venture Capital, and TVS Capital Funds.
Ashwin Ramachandran, Bharat Joshi, and Jithesh Kaveetil co-founded VuNet Systems, each contributing more than 25 years of expertise in developing deep tech enterprise products for international markets.
With its focus on "Observability for Business Journeys," VuNet's platform offers a distinctive and obvious change in the way that IT and intricate digital ecosystems are monitored. The platform unifies business, product, and IT teams by directly connecting IT performance to business impact. This improves accountability within the company, breaks down silos, and increases transparency. With over 20 billion transactions per month, a number of major financial institutions now have real-time visibility into their lending, payments, and other crucial journeys.
Ashwin Ramachandran, co-founder and CEO of VuNet Systems, stated, "This funding milestone marks a step forward as we expand globally and pioneer a new category of business journey observability. We are helping our clients obtain deeper insights and provide better customer experiences by further integrating advanced AI, including GenAI, across all workflows of our platform—from data ingestion to actionable recommendations."
According to a spokesperson for Pravega Ventures, VuNet's solution is essential to India's payment infrastructure, acting as the foundation for all of the nation's financial institutions.
Using cutting-edge technologies like big data and machine learning, VuNet has a track record of providing real-time visibility and actionable insights, according to Shripal Shah, MD and CEO of Kotak Securities.
By 2027, the market for IT operations management is expected to grow by $81 billion, according to Gartner. The increasing complexity of IT environments and the requirement to oversee complex digital ecosystems across hybrid clouds, guarantee system dependability, and improve customer experiences are the main drivers of this growth. Business observability is being used more and more in the financial services industry to offer thorough operational visibility, which facilitates quicker decision-making and increased system uptime.
According to VuNet, observability now entails using sophisticated AI and correlation engines in addition to "monitoring, observing, and alerting in silos." The goal is to present a comprehensive picture of the IT environment that extends both inside and outside the company.
