Total amount raised
$9.5 Millions
Latest funding date
12/1/2023
Location
DhiWise has successfully raised funding through multiple rounds, with notable investors including Accel, Together Fund, India Quotient, and Dholakia Ventures. The platform offers a next-generation graphical programming environment designed to streamline the software development lifecycle for IT service companies.
Keep reading to explore the intricacies of DhiWise's fundraising journey and the investors backing this innovative platform.
What Is DhiWise?
DhiWise, founded in 2021 by Rahul Shingala and Vishal Virani, is headquartered in Surat, Gujarat, India. The company specializes in providing an AI-driven platform designed to automate various stages of the software development lifecycle (SDLC) for IT service companies.
With a team of 51-100 employees, DhiWise offers tools that streamline requirement generation, project planning, design conversion, and coding assistance. Their solutions aim to improve efficiency, quality, and speed in software development.
By leveraging AI-powered and promptless Generative AI solutions, DhiWise helps IT service companies overcome common challenges and achieve maximum productivity.
How Much Funding Has DhiWise Raised?
- Seed Round
- Amount Raised: $2.5M
- Date: January 2022
- Lead Investors: India Quotient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of their AI-driven platform.
- Series A
- Amount Raised: $7M
- Date: August 2022
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and launch new features like Smart Editor and auto-identification of reusable elements.
- Non-Equity Assistance
- Amount Raised: Undisclosed
- Date: December 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing development and operational needs without diluting equity.
Total Amount Raised: $9.5M
Current Valuation: Not publicly disclosed
Key Investors
- Accel
- Details: Accel is a global venture capital firm that invests in seed, early, and growth-stage companies. They have a strong presence in the technology sector and have backed numerous successful startups.
- Investment Focus Areas: Technology, SaaS, consumer products
- Notable Investments: Facebook, Dropbox, Slack
- India Quotient
- Details: India Quotient is a venture capital firm focusing on early-stage investments in Indian startups. They aim to support innovative and disruptive business models.
- Investment Focus Areas: Technology, consumer sectors
- Notable Investments: ShareChat, Lendingkart, Sugar Cosmetics
- Together Fund
- Details: Together Fund is a venture capital firm that invests in early-stage startups, particularly in the SaaS and technology sectors. They provide not just capital but also mentorship and strategic guidance.
- Investment Focus Areas: SaaS, technology
- Notable Investments: Not publicly disclosed
- Dholakia Ventures
- Details: Dholakia Ventures is an investment firm that focuses on supporting innovative startups. They are known for their strategic investments in various sectors.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- Founders of Fleetx, Rocketlane, and WebEngage
- Details: The founders of Fleetx, Rocketlane, and WebEngage are successful entrepreneurs who have built and scaled their own companies. They bring valuable experience and insights to their investments.
- Investment Focus Areas: Technology, SaaS platforms
- Notable Investments: Not publicly disclosed
What's Next for DhiWise?
As DhiWise continues to enhance its platform with features like the Smart Editor and auto-identification of reusable elements, the company is poised to capitalize on the growing demand for AI-driven software development tools. This opportunity is substantial, given the increasing adoption of automation in the industry.
Future fundraising rounds, such as a potential Series B, could further fuel DhiWise's growth, allowing the company to scale its operations and expand its user base. However, challenges such as competition from other automation platforms and maintaining the quality of their AI capabilities could pose hurdles along the way.
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