Hubbler, an India-based no-code platform, said Monday it has raised $1.50 million from Artha Venture Fund, Unicorn India Ventures, and LenDenClub Alpha in seed round.

This is the first external funding round for the startup, Hubbler said in a statement.

According to the statement, the firm will use these funds to enter new markets globally and increase its user base.

The company currently has over 50 enterprise customers, including three unicorns, and wants to increase it by five times by the end of 2023.

The platform handles over a million monthly transactions and has built over 1,000 applications for enterprises and partners.

The company plans to increase the number of transactions by ten times in the next 12 months.

Hubbler is a no-code platform that empowers users to digitize their business processes without writing a single line of code.

According to the statement, no-code or no-code/low-code (NCLC) technology, as commonly referred to in the industry parlance, is gaining traction globally as it has democratized building applications through a visual drag-and-drop interface, removing the need to write complicated codes.

More than 65 percent of application development will be through NCLC technology by 2024, according to United States-based IT research and consultancy firm Gartner.

Indian tech industry association NASSCOM projects that the NCLC market in India will grow 10 times to $4 billion by 2025.

“No-code demand is growing rapidly, and we are seeing opportunities waiting to get explored. We plan to expand in the international market and process 10 times higher transactions by 2023,

“The funds we have raised in the seed round will enable us to do just that. More than the funds, we are looking forward to the strategic contributions of Artha, Unicorn, and LenDenClub Alpha in propelling us toward our goals,” Hubbler Founder Vinay Agrrawal said.

“The funding round is a validation of the value we are creating, as one of our customers (LenDenClub) has participated in the round,” he added.

Artha Venture Fund Managing Partner Anirudh Damani said the back end of developing complex applications has been a hurdle in scaling a business, a problem
valued at $11.45 billion in 2019 before the hyper-scale achieved in the pandemic.

“Hubbler is tapping into this nascent market with a founding team with deep operating knowledge and a stellar drive. I will be surprised if Hubbler does not create a global footprint,” he added.

Unicorn India Ventures’ Vice President Sparsh Kumar said as the number of startups and mid-sized enterprises that want to implement tech-driven workflows
increases, there will be a sustained demand for a sort of ‘codeless economy’ where multiple NCLC providers will strive to serve a large and ever-growing target group.

“And, amongst such business conditions, we believe that having a great founding team with substantial operating and entrepreneurial experience will be a key
differentiator,” he added.

LenDenClub’s Co-Founder and Chief Executive Officer Bhavin Patel said, platforms like Hubbler help organisations reduce the cost of development by three times to five times, increase productivity by 1.2 times to 1.5 times, and increase return on investment by 30 percent to 35 percent.

“We are elated to join Artha Venture Fund and Unicorn India Venture for this round of funding in Hubbler. We look forward to working strategically with the Hubbler team to help them achieve their goals while fulfilling our vision to identify and nurture innovative tech and fintech-focused startups,” he added.

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