Bengaluru, India– Valyx, an AI-powered B2B revenue and receivables automation start-up, has successfully raised $800,000 in a pre-seed funding round. The investment was co-led by Huddle Ventures and Waveform Ventures, with additional support from Bharat Founders Fund and Propell Fund.
Founded in late 2023 by Avishek Ray and Anirudh Bhargava, Valyx focuses on automating billing and receivables processes to enhance cash flow and accelerate payments for businesses. The platform offers features such as rate card management, usage-based billing, collections, cash application, reconciliation, dispute management, and collaborative receivables tracking.
Valyx aims to replace manual billing processes and Excel sheets with its technology, which the company claims has significantly reduced the time and effort for billing and reconciliation tasks. Prior to this funding, Tracxn had valued Valyx at $3.63 million as of December 29, 2023.
The new funds will be used to expand Valyx’s team and accelerate product development. The company aims to manage $1 billion in receivables within the next 18 to 24 months and evolve into a comprehensive AI-powered revenue management platform. The technology is designed to integrate with existing ERP and payment systems, potentially accelerating payments by up to 30% and expediting the financial close process.
Ishaan Khosla, Partner at Huddle Ventures, praised Valyx’s potential to revolutionize receivables management, highlighting strong interest from mid-market and enterprise clients in optimizing their collections workflows.
Summary:
- Funding Details: Valyx raised $800,000 in pre-seed funding co-led by Huddle Ventures and Waveform Ventures.
- Platform Focus: Valyx automates billing and receivables processes to improve cash flow and accelerate payments.
- Future Goals: The start-up plans to manage $1 billion in receivables within 18-24 months and aims to enhance efficiency in financial processes.