Obtan Technologies Pvt Ltd, which runs software development startup Looppanel has raised $1 million pre-seed round of funding from Speciale Invest with First Cheque and other angel investors.
The company has also received a grant from Sequoia Capital India as part of the Sequoia Spark program.
The startup plans to use the funds to ramp up their team as they add new capabilities to their products and expand their footprint across the US and EU.
“We realized there was a big challenge for anyone building digital products today—in the age of Canva and Miro, if users don’t see the value of a product immediately they’ll take their business elsewhere. But how do you build a product users value and love when it’s so hard to run interviews & test your prototypes with them? “said Kritika, CEO & Co-founder of Looppanel.
The startup was founded in 2021,Looppanel was born out of personal frustration – Kritika and Akash were running hundreds of user interviews at their previous startup Atlan, but the process turned out to be very slow and painful.
LoopPanel helps turn customer interactions into actionable insights. It enables product and design teams to analyze and share their findings from Zoom-based user interviews, offering transcripts, video clips, time-stamped note-taking, among others.
“It was clear that (Looppanel) was one of the first tools made for doing true qualitative research for B2B. It was very easy to get my team on board with using it,” said Austin Brown, UX Research Team Lead at PandaDoc.
The company streamlines user research by setting up calls, providing user interview templates, recording and transcribing sessions.
“Product Led Growth (PLG) engines have put product distribution on steroids and led to a proliferation of tools (created over $200 Bn in market value, said” Vishesh Rajaram, Managing Partner, Speciale Invest.
Looppanel claimed that it is building an infrastructure layer on top of these platforms for rapid user research.