Tooljet, a San Francisco-based open-source low-code platform provider, has raised $1.55 million in a Seed funding round led by Nexus Venture Partners, Ratio Ventures, Better Capital, and Alan Rutledge.
Individual investors who participated in the round included Rohan Murty (Founder of Soroco), Sony Joy (Head of Enterprise at Truecaller), Vipul Amler (Founder of Saeloun), Mohammed Hisamuddin (Founder of Entri), and Abhi Kumar of M12 Ventures.
Tooljet will use this round of funding to expand its team and accelerate the development of its core platform. It currently has a 12-person team.
Tooljet, founded in April 2021 by Navaneeth PK, enables businesses to build internal tools with minimal engineering effort. The startup, on the other hand, is still in its early stages but has seen the adoption of its services by hundreds of startups, scale-ups, and even unicorns.
“Companies are under pressure to do more with what they have. Open-source low-code tools enable developers to deliver what the business needs quickly and securely with enough flexibility to customize and extend,” said Navaneeth PK.
ToolJet allows users to connect to databases, cloud storage, and custom API endpoints to fetch data and take actions accordingly. It currently has integrations with more than 15 data sources such as MongoDB, PostgreSQL, Elasticsearch, Cloud Firestore, Google Sheets, and AWS S3.
Speaking on the investment, Sameer Brij Verma, Director at Nexus Venture Partners, said, “We are thrilled to partner with ToolJet’s team on their journey to build a revolutionary open-source low-code/no-code platform with the built-in collaboration which will enable their customers to radically increase their operational clock speed and ability to launch new products.”
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