Bytebeam, a Bengaluru-based B2B startup that simplifies Internet of Things (IoT) solutions, has received $3 million in seed funding from Together Fund, Accel, and STRIVE VC.
AdvantEdge VC, backed by the Motherson Group, Phanindra Sama, founder of redBus; Tanmai Gopal, cofounder of Hasura; Vimal Kumar, founder of Juspay; Mekin Maheshwari, former CPO at Flipkart; Deepak Anchala, founder of Slintel; Aakrit Vaish, founder of Jio Haptik, and other angel investors were among those who participated in the round.
Bytebeam, founded in 2019 by Gautam BT, Ravi Teja K, and Bharadwaaj Ramakrishnan, has users in the Indian mobility market, including batteries, electric vehicles, and charging infrastructure.
According to the startup, the cash will be used to develop technical skills, extend the platform offering, and grow a business with reach across verticals such as electric transportation, agritech, dronetech, and smart appliances.
Through Accel India’s Atoms programme, Bytebeam raised $250K in a Pre-Seed round in October 2021. This initiative provides Pre-Seed firms with simple access to non-dilutive finance, as well as coaching from founders and operators.