Human useful resource tech startup HONO on Wednesday raised $5 million in Series A funding spherical led by Aakash Chaudhry, Managing Director, Aakash+BYJU’s.
Chaudhry has made a private funding of $4 million, which is his first outdoors of the training sector. The startup has raised the remaining capital from different particular person traders together with Hemant Sultania, Amit Khanna of Amaya Ventures, and Harsh Gupta of Udayat Group.
With this funding, Chaudhry will be part of the Board of Directors of the corporate and will likely be actively concerned in guiding enterprise operations.
Speaking about his causes for investing in HONO, Aakash mentioned,
“HONO’s emphasis on technology, particularly AI to address, simplify and humanise end-to-end HR processes being a single source of truth and its ability to transform HR into a productivity driver is something we believe in. We expect HONO’s growth curve to show a much steeper rise hereon. Besides, we value the strong and constructive relationship with HONO, developed over years of association with them as a client. We believe in working with brands that are committed to revolutionising the industry. And HONO’s vision, its client centricity and its high-end solutions show that promise.”
According to the official assertion, HONO is seeking to leverage the recent corpus of funds to develop its operations throughout India, the Middle East, and Southeast Asia, growing its market footprint and strengthening its product providing.
With over 300+ purchasers together with Indigo Airlines, Spencer’s Retail, Kanmo Group, Dainik Bhaskar, Al Fardan Group, NBC Bearings, HDFC Bank, Medicover, Aakash+BYJU’S already on its shopper listing, and over a million staff on its AI-backed platform, HONO has achieved exceptional progress of 2X throughout FY22 They now intend scaling the enterprise and their gross sales vertical, and plan to double their shopper numbers, aiming at supporting 5 million individuals on the HONO platform within the present FY23.
“Having Aakash Chaudhry and our new group of investors in the fold, makes the HONO journey even more exciting. Their presence and this strategic investment not only establishes our investors’ faith in the business, but also reinstates our belief and the belief of the market in the direction HONO is evolving. We have, for years, been advocating that future-readiness of HR or organization lies in their use of data towards better productivity and happier people. And for that to happen they need to have a single-source-of-truth backed by truly smart systems. With this new impetus, we will be able to take this farther and do it globally, at scale,” added Mukul Jain, Founder & CEO HONO.