Collatree Raises Pre-Series A Funding from Saudi Companies

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Funding Alert

  • ByAmbi Das | November 19, 2022

Business leaders in Saudi Arabia have contributed an unknown sum in pre-Series A funding for Collatree, a multinational software services provider headquartered in Kozhikode, Kerala. According to a company spokeswoman, this will allow the company to further establish itself in Saudi Arabia. In an effort to weather the Covid-19 blues, Collatree previously made headlines when it announced the merger of seven start-ups with varying entrepreneurial backgrounds. Manu Ganga, Co-Founder and Chief Growth Advisor, detailed how the combined company brought Kerala’s cutting-edge ‘Thrasio’ concept.

A startup works with or acquires peers in a particular vertical and shares knowledge and resources to manage them more effectively under the Thrasio model, which was named after an eponymous American unicorn. At Collatree, we pool our resources and draw on each other’s expertise to provide customers with the best possible value, according to Ganga. Collatree wants to curate offerings to help businesses save time and money by transforming businesses using best-in-class solutions. According to the spokesperson, Collatree has sold over $1 million since the seven joined forces.

Collatree

The seven start-ups that formed Collatree: Networth Software Solutions (software and web development, founded by Kavita Nair; Glaube Technologies (logistics, Faeez Musthaq); Growth Associates (digital marketing and growth, Akshay V and Manu Ganga); Zinfog ( software and web development, Vivek Madhavan and Abdul Basith); Capio (brand marketing, Rifath Rahman); Armino Technologies (IoT and software development, Sooraj Narayanan); and Odox (open source ERP services Odoo, Muhammed Niyas Pavil and Muhammed Shiyas KP).

Even though these start-ups were all part of separate entrepreneur organizations, Manu Ganga noted that before joining forces, they considered other business growth strategies. He explained the importance of Saudi Arabia to Collatree by stating that by 2030, the West Asian nation hopes to expand its software and digital sectors. “The government has provided a lot of support, which makes it a great place. While large corporations and government initiatives in Saudi Arabia have been our main areas of business focus, we have also found start-ups based there that we can work with.

With a combination of local and international talent, Collatree has two offices in Saudi Arabia, one in Jeddah and the other in Riyadh. We will collaborate to develop leads in Saudi Arabia, Ganga continued, “led by Director and CEO Rifath Rahman, Manu Nambiar, Kavitha Nair (COO, India) and Musthaq Ahamed (COO, Saudi Arabia).” The company wants to expand its presence in India, Australia, UAE, Bahrain and other West Asian countries.

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