B2B SaaS Startup Anakin Raises $2M In Seed Funding
Anakin, a Business-to-business SaaS startup that enables e-commerce companies to see their competitors’ live pricing data, has raised $2 million in a seed funding round.
The funding round saw participation from YCombinator, HOF Capital, ACE & Company, Integrity, Austen Allred, Pioneer Fund and a group of other angel investors.
As per the startup, the raised funds will be used to enhance its software and hire additional employees to increase its presence in other geographies. Anakin will also invest in product development, expanding into other categories, and creating a self-service tool.
Anakin | Get LIVE Pricing Data Of Your Competitors
Founded by Mohit Prateek and Rashmi Bala, Anakin is a Y-Combinator backed technology startup and a competitive pricing intelligence platform for brands and online stores. With a presence in India, San Francisco and Singapore, Anakin claims to have helped companies including Flipkart, RedMart and Nike in increasing their revenues by as much as 12%.
Speaking on the development, Mohit Prateek, Co-founder of Anakin, said,
“E-commerce is rife with competition. We help companies and brands in optimising all variables, not just pricing and help them grow faster. Our customers like us very much and recommend Anakin to others.”
The SaaS startup sends eCommerce stores and brands the pricing, products and trends data of other similar stores (their competitors) so they can adjust their prices accordingly, fast.
As per the startup, e-commerce companies face issues in maintaining data and pricing millions of products across geographies accurately, which Anakin’s platform helps them with.
Aiming to create self-serve platforms for smaller eCommerce companies, brands and mom-and-pop stores, Anakin tracks and categorizes all the data using AI and machine learning. The SaaS startup, which is live in more than 12 countries, also claims to be growing at 24% on a month-on-month basis.
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