TLDR:
- Dallas Venture Capital leads a ₹42 crore Series A funding round in AI-based spend management platform, Dice.
- The funding will be used to expand market reach, improve customer engagement, and develop AI capabilities for an enhanced user experience.
Dallas Venture Capital (DVC) has led a ₹42 crores Series A funding round in the AI-based enterprise spend management platform, Dice. The funding round also saw significant participation from GVFL. Dice plans to use the proceeds from the funding primarily to support its go-to-market strategies aimed at expanding market reach and improving customer engagement. Additionally, part of the proceeds will be allocated towards developing AI capabilities to enhance user experience.
Dice offers a spend management solution that helps businesses optimize their B2B expenditures across various areas such as travel, reimbursements, and procurement. The Co-Founder and CEO of Dice, Prashant Singh Kushwah, expressed that the funding would enable the startup to enhance its product offerings and rapidly expand in overseas markets, starting with EMEA (Europe, Middle East, and Africa).
Sonam Khubchandani, Co-Founder and Head of Business Development at Dice, stated, “We are working with leading companies to simplify the way spend management is approached in complex setups. With this funding, we are confident to set foot in overseas markets.” DVC, co-founded by Dayakar Puskoor and Abidali Neemuchwala, has pledged to help Dice accelerate their growth in India and the USA through the DVC Advantage program and its network of advisors and partners.
The India fund of DVC has made an aggregate investment of ₹75 crore so far. This funding round signifies a significant milestone for Dice as they aim to strengthen their presence in both domestic and international markets, leveraging the support and expertise of Dallas Venture Capital.
