IIT-Madras incubated YNOS secures seed funding

MUMBAI: IIT-Madras incubated data analytics startup YNOS Venture Engine announced that it has completed its seed funding round of close to Rs 75 lakh led by Mahesh Ramachandran, Partner, Pontaq, a cross-border fund, who has invested in a personal capacity and a group of undisclosed investors. IIT Madras Incubation Cell also joined the round as a part of its Seed Support Funding Scheme to its incubatees. The founder promoters also participated in the round. The startup was co-founded by Thillai Rajan, co-founder of YNOS and Professor of IIT Madras, who is also an Associate at the Mossavar-Rahmani Centre for Business and Government, Harvard Kennedy School, Harvard University.

Rajan said, “The funding would help us to accelerate our product development and introduce several new features to our existing offerings. Innovators, aspiring and early stage entrepreneurs face several problems leading to high mortality rates of start-ups that they create. YNOS offers various technology driven solutions that helps to increase the chances of success start-ups and SMEs. We are happy to have to found the right financing partners whose perspectives align with those of YNOS.”

According to the company it provides a platform which help address some of the major challenges faced by early stage entrepreneurs and innovators. The offerings help the entrepreneurs identify potential investors, understand the start-up landscape, estimate the valuation, and get access to scientific and technology expertise.