You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.
Enterprise spend management platform Dice announced that it has raised INR 42 crore (USD 5 million) in a Series A funding round led by cross-border VC firm Dallas Venture Capital. GVFL (formerly Gujarat Venture Finance Limited) also participated in the round.
According to the official release, the raised funds will be used for go-to-market initiatives aimed at enhancing market penetration, customer outreach, sales and marketing strategies, and AI capabilities, demonstrating Dice’s commitment to growth and value creation.
Prashant Singh Kushwah, Co-founder and CEO of Dice, said, “We aim to democratise spend management for all stakeholders through inclusive commerce, transaction processing capabilities, and payment rails. This funding will empower us to expand our product offerings, grow rapidly in overseas markets, and deliver even more value to our clients.”
Founded in 2018, Dice is a corporate spend orchestration, digital commerce, and payments platform for enterprises. It uses AI to streamline and improve how businesses consume B2B goods and services, as well as manage their spending.
Gokul Dixit, Partner, Dallas Venture Capital, said, “Dice offers a distinctive value proposition that uniquely leverages GenAI to enable enterprise spend process automation, easy workflow configuration, and consequent cycle time reduction, freeing up significant working capital for an impressive array of partners and clientele.”
“DVC is thrilled to collaborate with Dice, and we look forward to helping them accelerate their growth in India and the USA through the DVC Advantage program, which leverages an extensive network of advisors and partners,” added Dayakar Puskoor, Managing Partner, Dallas Venture Capital.
“Dice is addressing critical inefficiencies in corporate spending processes by leveraging AI in their horizontal no-code solution. With their rock-solid GTM, the company has also scaled and garnered various partnerships, building an impressive clientele. GVFL is pleased to announce their partnership with Dice, supporting them in their global expansion and journey ahead,” said Kamal Bansal, Managing Director at GVFL.
