Sjain Ventures raises $0.5M in Pre-Series A Funding

Sjain Ventures is a privately owned IT Services and product development business commenced in 2009. Sjain established its roots in a Tier II city; the company envisions a world with no digital divide and access to cutting-edge innovative technology for all segments of society for all their needs.

They have headquarters across 5 national and international bases and cover a clientele of 1,200 from more than 40 countries. By watching the company's valuation: 18million dollars (135 crore rupees), the company received a tranche of investment as a neighbourhood of pre-series-A funding from investors: The Mumbai - Dubai based investor has made an investment of USD 500,000.

Recently, Sjain Ventures' director Divya Jain revealed that they're attracting investors from various countries for their upcoming project of product development which will include SaaS-based products in Education, Commerce, and other sectors. With this investment, Sjain is going to be heading forward within the direction of this project which can ensure a future that's more technologically driven.

According to the estimates, IT spending globally is estimated to reach USD 5 trillion by the end of 2021. In India, it is estimated to reach USD 1 trillion, and the Indian software product industry is expected to reach USD 100 billion by 2025, keeping this growth in mind their main focus with product development will include:

(i) Education: The whole-sole focus of this would be on the education sector by shifting to SaaS-based products. SaaS LMS is the future of online learning solutions. Talking about the estimates, the Global Learning Management System (LMS) Market is supposed to grow from USD 9.464 Billion in 2019 to USD 29.901 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.13 per cent and the India learning management system market is estimated to progress with a CAGR of 20.58 per cent over the forecasting years.

SaaS Learning Management System enables e-learning solutions and cloud-based LMS in large to provide very high-quality user-friendly learning experiences with this Sjain is also taking a step towards introducing gamification and lecture box which will be blended in one platform to engage and motivate while providing a great learning experience to the learners.

(ii) Commerce: As per the reports, India's e-commerce industry is estimated to clock USD 55 billion in sales during 2021 with the addition of 40 million new online shoppers, and the global commerce market is expected to reach USD 16,215.6 billion by 2027, at a CAGR of 22.9 per cent during the forecast period of 2020 to 2027. With this shift to digital platforms, businesses are increasingly adopting SaaS solutions. In the second phase, the company is planning for Fintech products and solutions.

Observing this, Sjain plans to focus on the development of the mobile app: Android and IOS both. This will deal with providing facilitated applications to the users and will run on the supplier's or provider's servers. Also, the SaaS-based E-commerce platform will be both single seller and multi-seller; offering the users services like marketing tools, payment gateways, shipping etc., to make the business processes more simple and streamlined.

This product will be beneficial to the E-commerce sectors: B2B, B2C and C2C. SaaS solutions are very fast and effective, and it is the most upcoming option in these tech-savvy and digital times.

With this Series-A funding, ensuring continued growth for Sjain, the company plans on achieving its milestones in product development, along with hiring new talent. During this project, they aim to supply their client firms with a robust digital platform to reinforce their data management.

The Company's director Divya Jain quoted, "The corporate is concentrated on research and innovation of emerging technologies like AI/ML, IoT/AUTOMATION, Blockchain, Mobility, and Cloud, SAAS, which can end in new differentiated services, solutions and can help the customers towards rapid climb and journeys which will help them transform digitally". They will not only be providing these services but also help their client with an in-depth analysis and upcoming benefits within the near future.

With the emergence of the latest path-breaking technologies like Artificial Intelligence, Internet of Things, Blockchain, Machine Learning, modern data science practices, cloud computing, and large data, and introduction and implementation of Microservices, Developer-Operations and automation; the future of the IT industry in India is quite bright. These services promote the creation of a next-generation workplace that thrives on the consistent collaboration between the enterprise systems and individuals.

Additionally, AI provides organizations with the opulence of freeing up resources for higher-level tasks. AI is the future and if one is willing to travel hand in hand with this continued trend in AI, Sjain is planning to make all this easy and accessible. It is quite visible that Artificial intelligence (AI) has started to push the boundaries of machine-enabled functionalities. This bleeding-edge technology facilitates machines to act with a degree of autonomy, which results in the effective implementation of iterative tasks.

Sjain plans to utilize this investment to expand its team, product offerings and accelerate the event of its tech and data platform. While the country was facing a lockdown and bearing the results of COVID-19, there was an enormous shift to digital platforms, leveraging this shift for themselves they're fixating on a future that will be product-based with services like AI/ML, Blockchain, SAAS which will change the way organizations look.

Sjain Ventures is planning to set up an IT park of 10,000 Sq Mt in Naya Raipur, the Greenfield capital and also 5000 Sqmtr office space at Raipur. Furthermore, if this Pre Series-A funding manifests to be successful for Sjain, they plan to shift to A-series funding as they exit the event stage and take a step towards further development and scaling up.

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( With inputs from ANI )