Exclusive: Bluecopa kicks off Series A with a 2.3X valuation surge

Finance operations (FinOps) automation platform Bluecopa to begin its Series A round with a Rs 64.7 crore (around $7.35 million) fundraise led by Valorshield Pte Ltd (Analog), with participation from existing investors Blume Ventures and Dallas Venture Capital.

This investment follows the company’s $1.8 million pre-Series A round secured in September last year.

The Bluecopa’s board has issued 4,562 Series A compulsory convertible preference shares at an issue price of Rs 1,41,849.13 per share to raise the above-mentioned amount, according to its filing with the Registrar of Companies (RoC).

Valorshield Pte Ltd led (Analog) the round with Rs 38.8 crore ($4.4 million) investment, while the existing investors Blume Ventures and Dallas Venture Capital participated with Rs 12.93 crore each.

According to Entrackr’s analysis, Bluecopa’s valuation surged 2.3X to Rs 306 crore or approximately $35 million post money, compared to Rs 133 crore valuation in its previous $1.8 million round

Co-founded in 2021 by  Nilotpal Chanda, Raghavendra Reddy, and Satya Prakash Buddhavarapu, Bluecopa uses AI and data analytics to help CFOs automate and optimize financial operations. Its cloud-native platform offers a unified system for modern finance teams, enabling autonomous processes that streamline workflows and improve overall efficiency.

According to startup data intelligence platform TheKredible, the Hyderabad-based company has raised around over $11 million to date including its seed round of $2.3 million raised in August 2022.

Financially, for the fiscal year ended March 2024, the Blume-backed company reported operating revenue of just Rs 5.2 lakh and non-operating income of Rs 27.38 lakh. It posted a net loss of Rs 7.2 crore during the period. The company has yet to disclose its FY25 financials.