About Parallel
Parallel is a company based in Bengaluru (India) founded in 2014 by Robin Dhanwani. It operates as a Professional Services, and AI-as-a-Service. Parallel has raised $2.99 million across 1 funding round from investors including Lifeline Ventures and Notion Capital. The company has 33 employees as of April 06, 2024. Parallel offers products and services including AI Experiences, Product Design, User Research, and Discovery Workshops. Parallel operates in a competitive market with competitors including Xponential Fitness, Goodpatch, Forum Brands, Carnival Corporation and Tegna, among others.
- Headquarter Bengaluru, India
- Employees 33 as on 06 Apr, 2024
- Founders Robin Dhanwani
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Sectors
Business ServicesTechnology
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Phone
*********
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Website
*********
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Social
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- Legal Name Parallel Digital Private Limited
- Date of Incorporation 26 Nov, 2013
- Jurisdiction Satna, Madhya Pradesh, India
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Annual Revenue
$1.21 M (USD)57.58as on Mar 31, 2023
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Net Profit
$91.52 K (USD)490.37as on Mar 31, 2023
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EBITDA
$247.51 K (USD)-6.3as on Mar 31, 2023
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Total Equity Funding
$2.99 M (USD)
in 1 rounds
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Latest Funding Round
$2.99 M (USD), Seed
Nov 12, 2024
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Investors
Lifeline Ventures
& 1 more
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Employee Count
33
as on Apr 06, 2024
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Products & Services of Parallel
Parallel offers a comprehensive portfolio of products and services, including AI Experiences, Product Design, User Research, and Discovery Workshops. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI integration for smarter, user-focused product solutions is provided.
Products are designed to drive meaningful user choices effectively.
Actionable insights are delivered for faster, informed business decisions.
Ideas are transformed into impactful products through immersive workshops.
Funding Insights of Parallel
Parallel has successfully raised a total of $2.99M through 1 strategic funding round. The most recent funding activity was a Seed round of $2.99 million completed in November 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $3.0M
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First Round
First Round
(12 Nov 2024)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2024 | Amount | Seed - Parallel | Valuation | Lifeline Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Parallel
Parallel has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Lifeline Ventures and Notion Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage venture capital is invested in European startups across sectors.
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Founded Year | Domain | Location | |
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Venture capital investment in European business software companies, focusing on early-stage opportunities in London.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Parallel
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Parallel
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Parallel Comparisons
Competitors of Parallel
Parallel operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Xponential Fitness, Goodpatch, Forum Brands, Carnival Corporation and Tegna, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Branding services are provided to clients by Xponential Fitness.
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| domain | founded_year | HQ Location |
UI design company and development based in Tokyo and Berlin
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| domain | founded_year | HQ Location |
Platform offering brand management solutions
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| domain | founded_year | HQ Location |
Provider of brand design services
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| domain | founded_year | HQ Location |
Digital media broadcasting and TV services are operated by Tegna.
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| domain | founded_year | HQ Location |
Marketing and branding services are provided internationally by Pico Group.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Parallel
Frequently Asked Questions about Parallel
When was Parallel founded?
Parallel was founded in 2014 and raised its 1st funding round 10 years after it was founded.
Where is Parallel located?
Parallel is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Is Parallel a funded company?
Parallel is a funded company, having raised a total of $2.99M across 1 funding round to date. The company's 1st funding round was a Seed of $2.99M, raised on Nov 12, 2024.
How many employees does Parallel have?
As of Apr 06, 2024, the latest employee count at Parallel is 33.
What is the annual revenue of Parallel?
Annual revenue of Parallel is $1.21M as on Mar 31, 2023.
What does Parallel do?
Parallel is focused on delivering AI-first product design and user experience solutions. Services are provided across sectors like Health Tech, FinTech, and Climate Tech. AI experiences are integrated to create smarter, user-centric products. Product design, user research, and discovery workshops are offered to transform ideas into impactful digital solutions. Collaboration with early-stage startups, scale-ups, and enterprises is emphasized to drive innovation and scalability in digital products.
Who are the top competitors of Parallel?
Parallel's top competitors include Xponential Fitness, Carnival Corporation and Forum Brands.
What products or services does Parallel offer?
Parallel offers AI Experiences, Product Design, User Research, and Discovery Workshops.
Who are Parallel's investors?
Parallel has 2 investors. Key investors include Lifeline Ventures, and Notion Capital.