Calicut-based Collatree Raises Pre-series A Funding
Collatree, a Calicut-based global provider of software services, has raised an undisclosed amount in Pre-Series A funding from business leaders in Saudi Arabia.
As per the firm, the raised funds will be used to expand its operations to Saudi Arabia.
Headed by Rifath Rahman (Director & CEO), Manu Nambiar, Kavitha Nair (COO – India) & Musthaq Ahamed (COO – Saudi Arabia) will work in tandem to nurture and grow leads in Saudi Arabia.
Collatree | Seven Startups As One
During the pandemic, when businesses were struggling, seven startups from Calicut joined forces using a Thrasio model and started Collatree.
The seven startups that formed Collatree:
- Networth Software Solutions, Software, and Web development
- Glaube technologies , Logistics
- Zinfog, Software & Web development
- Armino Technologies, IoT and Software development
- Odox, Odoo services
- Capio, Brand marketing
- Growth Associates Digital Marketing and Growth
Speaking about the importance of Saudi Arabia for the growth of Collatree, Manu Ganga, Co-founder and Chief Growth Advisor of Collatree, said,
“Saudi Arabia is aiming to grow its digital and software front by 2030. There has been a lot of support from the government as well, which became the main reason for us to expand to Saudi. As for clientele, while our primary focus has been major corporations and government projects in Saudi, we have also identified some startups based out of Saudi.”
Though all these startups were part of different entrepreneur groups in Calicut, they all looked at alternative ways to expand their business, resulting in Collatree. And since coming together, the firm has crossed USD 1 Mn in sales.
The startup has two offices in Saudi Arabia, one in Jeddah and one in Riyadh, with a mix of local and global talent. It aims to further expand its presence across other Middle Eastern countries such as UAE, Bahrain & Kuwait and India and Australia as well.