25/02/2025: Naffa Innovations Pvt. Ltd. (ToneTag), India’s leading voice-based payment and commerce solutions provider, has attracted an investment of INR 674 crores in its Series B2 funding round. The funding is a combination of primary and secondary capital and is led by ValueQuest S.C.A.L.E. Fund and its co-investors who have committed over 50% of the round, Iron Pillar, Elevate Inflection Capital LLC. Existing investor Elevate Innovation Partners LLC are also participating in this round. This investment will enable ToneTag to revamp customers payment experiences and accelerate its global expansion.

With over 30 million interactions per day, ToneTag is leveraging its patented soundwave protocol to deliver a seamless solution to its customers. Its stability at this scale highlights India’s prowess in creating globally competitive product companies. ToneTag counts global tech giants and leading Indian Banks amongst its customers in a B2B SaaS offering.

The company’s commitment to innovation has earned the trust of leading investors and partners. The funds raised will be directed toward scaling operations, advancing R&D efforts, recruiting quality talent, and enhancing marketing initiatives. ToneTag is also setting its sights on new markets in Asia, South America and the Middle East to bring its transformative solutions to a wider audience.

With a firm foundation and ambitious vision, ToneTag continues to set benchmarks in the payment technology space, paving the way for secure, scalable, and transformative commerce solutions worldwide. This round was orchestrated by Nitish Aggarwal and Anu Aggarwal from Investment banking firm Probhus Ventures , operationally supported by Girish Kaushik and Suman Bajoria from JAA Associates and legal consultants from Lex Connect Consulting