The product was developed & fine-tuned over a year using a build-with-community approach; launched across India, Europe, North America, Southeast Asia and the Middle East
Round saw participation from BEENEXT, Paradigm Shift Capital, Goenka family group and others
Zeda.io plans to expand its market presence and increase the team size with new funds over the next few months
Bengaluru, August 18, 2022: Zeda.io, the product management superapp, today announced raising $1.6 million pre-Series-A round from existing investors BEENEXT, Paradigm Shift Capital, Goenka family group-led Radiant SFO, along with a slew of reputed angel investors. The funds raised will be used for business expansion across North America and Europe, as well as for hiring across teams — Product, Engineering, and Business.
Zeda.io aims to simplify the complexities involved in product management — a role that is critical for almost every company in the world. The startup announced it has rolled out its live platform globally and currently has customers across India, Europe, North America, Southeast Asia and the Middle East. The Zeda.io team worked closely with these customers to understand the product management challenges and develop the right product to address them. The platform came to life after an intense development phase that spanned a year in beta. Zeda.io leveraged a unique build-with-community approach by engaging over 6,000 product managers (PMs) from around the world to get regular feedback and suggestions, thereby building a market-ready and timely product for users globally from the get-go.
The Bengaluru-based Zeda.io is live with over 30 companies from around the world across India, the USA, Indonesia, Australia, Singapore, etc. Its customers include Cars24, KoinWorks (Indonesia), Nimble Wireless (India), Hiver (USA), KlearNow (India), and Sprinque (Netherlands) to name a few. Zeda.io previously raised its seed round of $1.2 million back in January 2022 led by BEENEXT, Binny Bansal-backed 021 Capital, Whiteboard Capital, FirstCheque.vc and Paradigm Shift Capital.
Founded in 2021 by entrepreneurs and erstwhile PMs who built and scaled several products, Prashant Mahajan and Vaibhav Devpura, Zeda.io is on a mission to make product management simpler, and smarter and help PMs globally build quality products. The company’s one-stop comprehensive Product Management suite is designed to simplify processes and reduce redundancies by bringing all the pieces needed to build great products in a better planned, collaborative and productive way. The platform’s uniqueness lies in its ability to integrate various processes into one platform, i.e. modules required to build and work with various other tools, templates, and daily management, while also engaging with different stakeholders. Zeda.io plans to build machine learning models which can automate, optimise and analyse products — a feature that is currently not available on any product management tool in the market.
“We are truly excited to go live with our product and unlock innovation among companies and PMs by simplifying product management. The funds will help us scale as well as accelerate our growth plans as we move to the next phase. This achievement wouldn’t be possible without the support of the fantastic 6,000+ PM community we have built along with our core team. We are grateful for the support of our repeat and new investors as we work together on Zeda.io’s vision of redefining and simplifying Product Management.” said Prashant Mahajan, Founder, Zeda.io.
Hero Choudhary, Managing Partner at BEENEXT, remarked, “Zeda.io is working closely with the community in building and refining its product since very early days. The team has identified the pain points of PMs around the world and succeeded in building a truly unique global product. We are excited to be on the company’s journey from Day zero and look forward to watching the team achieve more milestones.”
“With Zeda.io, all our stakeholders are on the same page. It is the perfect tool for Product Managers to have their team aligned on the business vision,” says Snehasri Purama, Senior Product Manager at Sprinque.
Zeda.io also plans to help PMs showcase their work and learn from others’ work similar to the designer community on Figma and developer community on GitHub, essentially making product management open-sourced for personal and side projects. Over the past year, Zeda.io’s community of 6,000 product managers has been built across their newsletter, LinkedIn, and Slack.