Singapore-based B2B sales productivity startup Nektar.ai has raised seed funding of $2.15 million led by Nexus Venture Partners. The round also saw participation from Insignia Venture Partners, Arka Venture Labs, Better Capital, and Vietnam Investments Group.
Abhijeet Vijayvergiya, Co-founder and CEO, said: “In the last decade, investment in sales tools globally has grown by five times but the average sales quota attainment has fallen 40 percent. According to Forbes, 57 percent of sales reps missed their numbers in 2018. At Nektar.ai, we want to change this by reimagining the future of modern sales and building a first-of-its-kind AI-driven sales productivity solution that will help go-to market revenue teams to seamlessly collaborate and make more sales reps successful in meeting their quotas.”
Vinod Muthukrishnan, Chief Growth Officer at Cisco said, “B2B sales has not undergone a transformation for more than a decade and salespeople continue to work for the tools and not the other way round. It’s about time that the vision of tools working for sales teams comes to life. I believe Nektar.ai is on a mission to accomplish that and supercharge the productivity of salespeople.”
Jishnu Bhattacharjee, Managing Director, Nexus Venture Partners, said: “Nektar.ai is filling a key gap that exists in how revenue teams operate: a collaboration platform that captures and leverages the collective experience and intelligence of the go-to market teams and helps in operationalising the best practices and winning sales playbooks. We are thrilled to partner with Abhijeet and Aravind toward building Nektar into a remarkable company.”
Yinglan Tan, Founding Managing Partner at Insignia Ventures Partners, said, “We are excited for Abhijeet and his team as they build and grow Nektar.ai to be the leading SaaS company reinventing productivity and intelligence for revenue and go-to market teams across South East Asia and the world.”
Nektar.ai will use the $2.15 million seed investment to build an AI-powered GTM collaboration engine for modern revenue teams, focus on its platform, and expand its product and engineering teams.