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HomeInsightFunding Alert Karomi Technology raises $2 mn in Pre-Series A round

[Funding alert] Karomi Technology raises $2 mn in Pre-Series A round

[Funding alert] Karomi Technology raises $2 mn in Pre-Series A round

Karomi Technology, a SaaS-based packaging management platform has raised $2 million in its Pre-Series A  funding round from Cornerstone Venture Partners Fund (CSVP Fund), with the current investor Ideaspring Capital.

The startup plans to use the funds to expand its presence in the US market and expand into Europe, in addition to its existing presence in France.

The Chennai-based Karomi Technology (under the brand ManageArtworks) was founded by Vilva Natarajan, It is an end-to-end packaging artwork management solution that helps organizations from highly regulated industries – such as pharmaceuticals and CPG (consumer packaged goods) – reach their markets faster while ensuring regulatory compliance. It aims to create industry-first technology and data solutions, including the use of AI and ML to optimize artwork design.

Read also – [Funding alert] B2B digital platform Solv raises $40 mn in funding

In this highly competitive market, ManageArtworks empowers brands with solutions that help them manage their packaging materials, print and packaging specifications, and automate the artwork journey while helping them remain compliant.

“Packaging content, specifications, and artwork management is a significant challenge for organizations of all sizes around the world. Most packaging artwork iterations are caused by inconsistent packaging data. 58% of artwork iterations are caused by packaging content errors even in 2022. Centralized packaging data management systems are the need of the hour. Intelligent solutions that help shape packaging journeys for brands are the future and we are proud to be working on many industry-first solutions. This funding will also enable us to expand deeper into the US and European markets,’’ said, Vilva Natarajan, CEO, Karomi Technology.

The ManageArtworks is currently working with over 4,000 brands, including large enterprises such as P&G, Dr Reddy’s Laboratories, Wockhardt, Dabur, Amul, JBS Group, Taylor Farms,TFE Wines, and others.

“We believe ManageArtworks is targeting a globally relevant and complex need for multiple stakeholders in the value chain with an intelligent and uniquely positioned offering.  Automating end-to-end journeys for workflow and compliance management, it is highly scalable with a wide array of local language support and compliance adaptability. With its Packaging Data Management platform, it acts as a single source of truth for the relaunch and even pushes them directly to online sales channels in GDSN-compliant formats. In this environment of ever-changing consumer behavior, a shorter time to market is the only way to stay relevant. We truly believe in the potential of the platform and are excited to be on the growth journey with Vilva”, said, Nanika Kakkar, Investment Director, CSVP Fund.

Naganand Doraswamy, Managing Partner & Founder at Ideaspring Capital, added “Karomi is building a world-class enterprise packaging software solution. We are excited to partner with Vilva and his team in their next journey of international expansion. We strongly believe that the R&D innovations they are working on will help them get a deeper foothold in the US and European markets.”

About Karomi Technology

Karomi Technology offers a cloud-based packaging and artwork lifecycle management system for Pharmaceuticals and Consumer Packaged Goods(CPG) companies.

They provide everything the customer needs to pursue artwork projects. Manage every step of the packaging and artwork process.

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