SaaS Startup Loopin Raises Seed Funding Led by Venture Highway The capital from this Seed funding round will be used to further develop the product and expand the team
By Prabhjeet Bhatla •
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Saas startup Loopin, a calendar-based productivity platform, announced on Wednesday that it has raised $820,000 in Seed funding led by Venture Highway. Other investors include First Cheque and a few angel investors.
The product is currently in beta with select organizations and aims to launch for a broader audience later this year. The capital from this Seed funding round will be used to further develop the product and expand the team.
"With distributed workforces blurring the boundaries and employees adopting more fluid schedules, there is an urgent need to focus on output and not the hours. Loopin solves this and provides a simple solution to make your workday more effective," said Anurag Varma, co-founder, and chief executive officer, Loopin. "We're delighted with the outcome of our fundraising efforts. The trust of our investors is a testament to the very real and needed solution that Loopin's platform brings to the market."
The calendar, which is instrumental in managing productivity, has not seen much innovation. In its current form, it is simply an add-on to the workspace suite and is limited to scheduling events and joining meetings. Loopin is reimagining the calendar from the ground up, by building a one-stop platform to help executives manage their day efficiently, and take charge of their productivity. Loopin converts the calendar into a productivity hub that allows users to manage their workday by automating tasks, deadlines, follow-ups, notes, and tangible takeaways from meetings that drive meaningful outcomes.
"Calendar is a dashboard of how one spends their time at work. And yet, it is surprising that its use is reduced to just scheduling events. We're excited about building a new way to manage your day. We've received encouraging early feedback on the platform and how it's helping both individuals and teams make the most of their day. We're looking forward to launching soon and bringing Loopin to every executive's workflow," shared Parth Pareek, co-founder, Loopin.
"I live in my calendar! While it is the most important tool, it is also something that has remained as is with little re-imagination and innovation. At least for 50 per cent of my calendar slots, I wonder about the context, past action item,s and relevance for today's meeting. For people, where time is inventory, calendars if reimagined can drive significant productivity and give back time in our hands. This is what Loopin is aiming to do, give back time by reimagining your calendar," added Priya Mohan, startup sensei, Venture Highway. "As a Venture Highway alum, I have had a first-hand view of Anurag's product thinking and the founding team is well equipped to solve this problem. We wish them every success."
The pandemic has accelerated the move to remote and distributed workforces for many organizations and most executives anticipate that remote work will continue to be the new normal. A 2020 Gartner survey of 5,000 employees found that 87 per cent prefer to work remotely either full or part-time. Given this scenario, it is imperative for professionals to plan their workdays to derive maximum productivity.
