A Web based IDE platform, Cloudworx raises funds from SucSEED Indovation Fund!
Cloudworx is a provider of low-code development platforms. The Low-code/no-code (LCNC) platform helps developers in building mobile applications for IoT devices and helps in adopting the Digital twins towards Enterprise Metaverse. It has secured Seed Capital from Hyderabad-headquartered SucSEED Indovation Fund as well as IIIT Hyderabad, Expert Dojo, and other angel investors.
Cloudworx offers an application development platform with no-code tools like 3D workspace, 3D models, and 3D web editor which can be used by a non-technical users. It also allows integration with other enterprise tools like Oracle, SAP, Salesforce, Slack, etc. 3D visualization of data will help enterprises make decisions better, faster, and more efficiently, ensuring they achieve target business outcomes. Cloudworx has already onboarded strong channel partners like Trilleco, CWORX International, Hacker News, etc.
Cloudworx allows users to create predictive and preventive analytics using connected devices, databases, reports, and other data sources. They have packed the whole process of training, building, deploying, and building algorithms in just one click. Users don’t even need to have any prior ML
experience to play around with the editor and create their own AI/ML reports.
Cloudworx is founded by Yuvraj Tomar and Kaushik Bharadwaj. Yuvraj comes with 11+ years of experience in technology and product management. Ex-Google and CISCO. He was also featured in the Inaugural Forbes 30 Under 30 Asia in 2016 in consumer technology. Kaushik comes with 6+ years of experience in technology and product development.
Speaking on their investment reasons, Vikrant Varshney, Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “Based on a report by Fortune Business Insights, metaverse market size was valued at USD 63.83Bn in 2021 and is projected to grow from USD 100.27Bn in 2022 to USD 1,527.55Bn by 2029, exhibiting a CAGR of 47.6% during the period. Low-code/no-code (LCNC) platforms are gaining momentum to cut down software development cycles. Cloudworx differentiates itself from others by focusing on building 3D no-code editors to build metaverse maps for real time monitoring of locations. Whereas, most of the startups in this space are building no-code platform to build only apps. We wanted to help Cloudworx to scale with many businesses & segments for rapid adoption”
Yuvraj Tomar, the Founder and CEO of Cloudworx said, “Going through tons of graphs, charts, and dashboards is very cumbersome and painful for business owners. That’s why they are adopting the Enterprise Metaverse in the form of digital twins. However, it’s not a simple task to create a working, scalable, and living virtual replica of your factories in 3D. It’s really complicated, and requires a specialized 3D development team to do the job; thus out of the reach of many businesses. This is where we step in to bridge the gap by bringing the capabilities of NoCode into a 3D workspace that allows businesses to build 3D apps without writing any code or having to depend on a 3D team.”
He further added that “Seed funding raised from SucSEED Indovation Fund as well as such established Angel Investors, will help us strengthen our existing partner channels and add more muscle to our product offering. We intend to launch the product in a Freemium SaaS offering by 4Q and open up a new market category — “citizen developers for the metaverse”, in a domain that has only comprised game-engine and Web3 developers to date.”
About SucSEED Indovation Fund — SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with a ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors — EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS, and Digital Economy & Emerging Tech.
