ToolJet raises $1.5M in seed funding round led by Nexus Venture Partners

ToolJet raises $1.5M in seed funding round led by Nexus Venture Partners

The company intends to use the funding for team expansion to accelerate the development of the core platform of ToolJet.

ToolJet, an open source low-code software for building internal devices has brought $1.5 million up in a seed funding round led by Nexus Venture Partners with participation from Ratio ventures, Better capital, Alan Rutledge just as big business authors, operators and investors, including Rohan Murty (founder of Soroco), Sony Joy (head of Enterprise at Truecaller), Vipul Amler (founder of Saeloun), Mohammed Hisamuddin (founder of Entri) and Abhi Kumar of M12 Ventures.

ToolJet’s technology enables companies to build their internal tools with minimum engineering effort. ToolJet’s platform is still in its early days but it has already been adopted by hundreds of startups, scale-ups and even unicorns. ToolJet currently has integrations with more than 15 data sources such as MongoDB, PostgreSQL, Google Sheets and AWS S3.

ToolJet was founded in April 2021 by Navaneeth PK Navaneeth has previously co-founded MobioPush which was acqui-hired by Freshworks in 2015. The Toojet team comes with rich experience in building enterprise SaaS applications.

“Companies are under pressure to do more with what they have. Open-source low-code tools enable developers to deliver what the business needs quickly and securely with enough flexibility to customize and extend,” said ToolJet Founder and CEO Navaneeth PK.

Sameer Brij Verma, director, Nexus Venture Partners, commented, “We are thrilled to partner with ToolJet’s team on their journey to build a revolutionary open-source low-code/no-code platform with the built-in collaboration which will enable their customers to radically increase their operational clock speed and ability to launch new products.”

Being open-source allows the users of ToolJet to build custom plugins and connectors using JavaScript. This flexibility is not possible if using proprietary software where the custom requirements are ignored almost always.

Since it was made public in June 2021, ToolJet’s GitHub repository got contributions from more than 100 contributors from more than a dozen countries. The project has observed contributions from developers working at CISCO, Freshworks, Razorpay, and Hasura. Open source products evolve around the community, the constant feedback from the community has helped in improving the product.

The worldwide low-code development technologies market is projected to $13.8 billion in 2021 according to the latest forecast by Gartner, Inc. Low-code adoption is boosted by the cost optimization efforts and remote development due to the ongoing COVID-19 pandemic. Forrester predicts that 75% of development shops will use low-code platforms by the end of the year.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Standard Chartered hires Marisa Drew as Director of Sustainability
Standard Chartered hires Marisa Drew as Director of Sustainability
Drew will also join the CCIB Management Team. Emerging markets-focussed lender Standard Chartered said on Thursday it had selected supportability veteran ...
US consumer protection agency adds stress on banks over fees
Now or never? European banks watch the comeback against Wall Street
“The need is becoming much more urgent for European banks to show what they truly stand for and how they’re going to differentiate themselves to create an ...
Why did encryption go down?  Cryptocurrencies have fallen with the stock market
Why did encryption go down? Cryptocurrencies have fallen with the stock market
In other words, given the increase in retail and institutional investors, what happens in traditional markets is now likely to affect cryptocurrency markets as ...
Berthoud students raise money for classmates affected by the Marshall fire – Loveland Reporter-Herald
Berthoud students raise money for classmates affected by the Marshall fire – Loveland Reporter-Herald
The Marshall Fire, which was first reported to authorities on Dec. 30, 2021, is the most destructive wildfire in the state’s history. Nearly 1,000 homes were ...
Generali's stake in insurance joint ventures will increase to up to 74%
Generali’s stake in insurance joint ventures will increase to up to 74%
It will become the majority shareholder of Future Generali India Insurance Company Limited and Future Generali India Life Insurance Company Limited, ...
SAP software group buys majority stake in American fintech Taulia
SAP software group buys majority stake in American fintech Taulia
While SAP did not disclose the deal price, SAP Chief Executive Officer Christian Klein said the value is less that $1 billion. Taulia had raised more than ...
Tesla shares jump ahead of the report;  Investors Eye Factories, Cybertruck
Tesla shares jump ahead of the report; Investors Eye Factories, Cybertruck
Musk has promised an updated product roadmap. Some investors expect timeframes for the launch of Cybertruck and a hoped-for $25,000 electric car. Shares of ...
As Ukraine fears fade, Russian ruble rebounds from nearly 15-month low
As Ukraine fears fade, Russian ruble rebounds from nearly 15-month low
The trigger for a sharp rise in the rouble may have been Belarus saying Russian troops would leave its territory once military drills, scheduled to end in ...
Oasis External AIO Laptop Cooling refinements revealed by XMG
Oasis External AIO Laptop Cooling refinements revealed by XMG
Furthermore, XMG has pricing and availability data to share for those interested in the Neo 15/Oasis. The quick-connect XMG Oasis AIO cooling accessory for ...
EasyJet sees short-term Omicron hit before summer recovery
EasyJet sees short-term Omicron hit before summer recovery
“We see a strong summer ahead, with pent-up demand that will see easyJet returning to near 2019 levels of capacity with UK beach and leisure routes ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo