Dice raises $5m in Series A round led by Dallas Venture Capital India Fund

By Gloria Mathias

Dice, an India-based enterprise spend management platform, has secured $5 million (INR 42 crores) in Series A funding led by Dallas Venture Capital, with participation from GVFL (formerly Gujarat Venture Finance Limited).

The funding will fuel the company’s various go-to-market initiatives, which aim to enhance deeper market penetration, expand customer outreach, optimize sales and marketing strategies, and boost AI capabilities to enrich the user experience.

“We are dedicated to democratizing spend management through inclusive commerce, robust transaction processing capabilities, and efficient payment rails,” said Prashant Kushwah, Co-founder and CEO of Dice. “With the support of Dallas Venture Capital and GVFL, we’re excited to enter this new phase. This funding empowers us to broaden our product offerings, accelerate growth in international markets, and deliver greater value to our clients.”

Dice operates as a corporate spend orchestration, digital commerce, and payments platform. It utilizes AI to streamline B2B procurement processes and manage enterprise spending effectively.

Gokul Dixit, Partner at Dallas Venture Capital, shared, “Dice’s use of GenAI sets them apart, enabling automation of enterprise spend processes, easy workflow customization, and a significant reduction in cycle times, thereby releasing substantial working capital.”

Kamal Bansal, GVFL’s Managing Director, said, “Dice is tackling critical inefficiencies in corporate spend management with its AI-driven, horizontal no-code solution. Its strong go-to-market strategy has facilitated partnerships and attracted an impressive client base. GVFL is excited to support Dice in its global expansion and future endeavours.”

This funding round marks a pivotal moment for Dice as it prepares to scale operations and innovate further in the enterprise spend management space.