Business processes observability platform VuNet raises $5-M

Bengaluru-based AI startup VuNet has raised USD 5 million in a Series A funding round led by Mela Ventures and Athera Venture Partners. Dallas Venture Capital and TVS Capital Funds also participated in the funding round. Founded by Ashwin Ramachandran, VuNet's product vuSmartMaps helps businesses monitor their processes and also improve users' payment experience. It offers services to banks, payment gateways and financial institutions and helps improve their digital payments workflow as well as enhance customer experience. The funds will be used to accelerate research and development activities to build new products and also expand operations across India, Asia and the US.