Syook, a Bengaluru-based startup enabling enterprises to visualize their operations and offering insights that can translate into scalable impact, has secured US$ 1 million in a Series A funding round on 24 August 2021.
Investors: The latest funding round involved participation from Inflection Point Ventures and ONGC. Newchip and many independent investors also back the startup.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards reaching new markets like the Middle East and Southeast Asia and creating a proficient technical team.
Brought to existence in 2016 by Aman Agarwal, Arjun Nagarajan and Saurabh Sharma, Syook employs its modular, no-code-IoT tech to aid businesses in digitally transforming their operations across the supply chain. Beginning its operations with a simple trial conducted in a plant in North India, the startup has partnered with elite IT corporations such as Bosch, Microsoft, Siemens, and Accenture to aid clients in digitalization. Syook envisions becoming a global leader in delivering unique and effective digital technology solutions for operations efficiency. The startup boasts significant momentum abroad by attracting and serving foreign enterprises such as FIAT and TATA Group, Hindustan Unilever and Reckitt Benckiser.
What the Founder has to say: “Digitalization of business functions and processes has gained much popularity with the advent of Covid-19. Enterprises spread across different geographies seek technological solutions to sustain themselves in a competitive environment. In just the first quarter of this fiscal year, we have observed a 2X rise in our order book in contrast to the first quarter of the previous fiscal year.” Arjun Nagarajan, Co-Founder and CEO of Syook.
What the Investors have to say: “Syook has diligently worked for the last two years towards pushing the impact of live location analytics to its clients. We have closely examined Syook growth as its expansion pace increased by captivating many of India’s leading corporations as users and collaborators. The startup’s rapid expansion plans prescribe financial and extra support as a mandatory stimulus to achieve its international goal. We have a strong faith in Syook’s potential to become a global leader.”- Vinay Bansal, Founder and CEO of Inflection Point Ventures. “Examining security, efficacy, and regulation enhancements in Syook’s offerings available to its customers is exhilarating. Its products and services have huge scope in the energy industry, including downstream and upstream.”- ONGC Startup Team.
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