Funding News: Digital Payment Startup 'ToneTag' raises $ 78 million in Series B2 Funding

Startup:  ToneTag

Founder: Kumar Abhishek

About us: ToneTag harnesses the power of sound to build a robust channel of data communication to enable extraordinary experiences across businesses. The technology utilizes proprietary software which gives way for quick and easy data communication.

Founded Year: 2013

Office: Bengaluru

Sector: IT Services

Funding Round: Series B2

Investors:  ValueQuest S.C.A.L.E. Fund and Elevate Innovation Partners LLC.

ToneTag, a contactless payment solutions provider, has secured $78 million in its Series B2 funding round. This substantial funding will be used to enhance customer payment experiences and accelerate ToneTag's global expansion.

Notably, this is ToneTag's first funding round in nearly seven years, a rare occurrence in the startup ecosystem.

Founded by Kumar Abhishek, the Bengaluru-based company offers three product categories: voice commerce, online store solutions, and in-store solutions, catering to the retail and F&B sectors. Its Oyeti platform allows businesses to integrate voice-powered shopping, ordering, and payments. For consumers, the VoiceSe UPI service facilitates voice-based transactions, even without an internet connection.

ToneTag processes over 30 million transactions daily, leveraging its proprietary soundwave technology. This technology enables secure, sound-based payments, offering accessibility even in areas with limited internet connectivity. The company has earned the trust of major players like Google, Amazon, SBI, and ICICI Bank, who utilize ToneTag's solutions.

Website: https://www.tonetag.com/