Hyderabad: Financial Operations Automation Platform Incubated by T-Hub Bluecopa announced Wednesday that it has raised $2.3 million through a seed funding round led by Blume Ventures and T-Fund, a Telangana government-led co-investment fund.
The funding round also saw participation from Titan Capital, Special InvestBharat Founders Fund, T2D3, Amplify and Force Ventures.
A host of startup founders, including Rohit Chennamaneni from Darwinbox, Krish Subramanian from Chargebee and Rajaraman Santhanam and Lambdatest’s Asad Khan and Jay Singh have also invested in this round.
Bluecopa, which targets global enterprises with the aim of freeing up finance teams to focus on strategic finance, said the capital raised will be used to improve startup capabilities, hire talent and grow. its consumer base.
The startup said its platform helps CFOs and CFOs get a real-time view of all company KPIs (key performance indicators), gain actionable insights, and provide strategic direction. to business leaders.
It also handles day-to-day financial operations such as business planning, scenario modeling, variance analysis, smart alerts, reconciliations, among others. The financial operations automation solutions market is considered a $20 billion opportunity globally.
Bluecopa was established in 2021 by second-time entrepreneurs Raghavendra Reddy, Satyaprakash Buddhavarapu and Nilotpal Chanda who have experience in fintech, ERP, AI and data engineering.
In fact, Satyaprakash’s first startup, Tuplejump, a machine learning platform, was acquired by Apple in 2016.