The company will use the funds for product development and expanding its team across functions such as Product, Engineering, and Business.
Zeda.io, a Product Management platform today announced raising $1.2 million seed capital from BEENEXT, Binny Bansal-backed 021 Capital and existing investors Whiteboard Capital, FirstCheque.vc and Paradigm Shift Capital. The company will use the funds for product development and expanding its team across functions such as Product, Engineering, and Business.
Founded in January 2021 in Bengaluru and registered in Delaware, USA, Zeda.io took shape out of the gap that Co-Founders Prashant Mahajan and Vaibhav Devpura identified to solve, having built and scaled products for several global companies. They realized that despite the growing number of Product Manager (PM) roles across companies, there was no singular tool that helped them collaborate with different departments. Currently, product teams have to juggle between multiple tools to manage their products, making Product Management fragmented and inefficient. Zeda.io’s one-stop comprehensive Product Management suite is designed to simplify the processes by bringing together all things needed to define, manage and collaborate on products.
A PM is said to use an average of 7-10 different platforms on a daily basis in order to efficiently build and manage products. Zeda.io’s USP is in its ability to cut down this number to just one platform by integrating various processes, i.e. modules required to define and brainstorm with templates, day-to-day management, and collaborate with other tools such as Jira, Figma, Salesforce, Freshdesk, Hubspot, etc., as well as interact with the larger PM community. The company also plans to offer machine learning models which can automate, optimise and analyse products — a feature that is currently not available on any product tool in the market.
“Our mission is to make Product Management Simpler and Smarter, and improve the overall quality of products being built in the world. We are excited to have great investors in our journey, backing our goal of helping product managers around the world be more productive and helping companies be more product focussed. We aim to bridge the science and art of Product Management using community and machine learning. We will build machine learning models to assist Product Managers in their day-to-day job, like how Github AI Copilot helps engineers,” said Prashant Mahajan, Co-founder, Zeda.io.
Hero Choudhary, Managing Partner at BEENEXT, said, “Product Management is an integral part of businesses around the world today. Zeda.io has identified a massive opportunity to solve the problem being faced by thousands of businesses and PMs as a result of inefficient tools. Zeda.io’s innovative and highly scalable Product Management suite will define and shape the future of how PMs will build products.”
Zeda.io currently is live with about 300 users from 6 geographies on the platform in private beta mode, with 4,000 more on waitlist. Initial feedback from the community has been encouraging, with Product Managers now having just one link to share with their stakeholders. The Zeda.io team is taking a build-with-community approach by engaging with the community to get feedback and feature requests. Over the past year, the team has built a community of 6000 product managers across their newsletter, LinkedIn, and Slack. They plan to help PMs showcase their work and learn from others work similar to designer community on Figma and developer community on GitHub, essentially making product management open sourced for personal and side projects.
Aditya Chintawar, VP of Products Koinworks, who is using of Zeda.io, said, “We started working with Zeda.io team to perform quarterly roadmapping, centralize product ideas, and feedback which are otherwise scattered at multiple places and tools. We have been able to streamline collaboration between different teams to ultimately drive more value for customers across a single platform. I am confident that the Zeda.io team is on the right track to simplify product management in the coming days.”
Source: Business World