Hono, a human resource technology startup, announced on Wednesday that it has raised USD 5 million (about Rs 39 crore) in a funding round led by Aakash Chaudhry, managing director of test preparation company Aakash+Byju.
Hono, a human resource technology firm, has raised USD 5 million (about Rs 39 crore) in a fundraising round led by Aakash Chaudhry, managing director of exam preparation company Aakash+Byju. The cash-raising took place last week, and the corporation released a statement about it.
According to a PTI report, Chaudhry put in USD 4 million, while other private investors including Hemant Sultania of Aakash Educational Services Ltd (AESL), Amit Khanna of Amaya Ventures, and Harsh Gupta of Udayat Group put in USD 1 million.
According to a business release, Hono plans to use the new money to grow operations across India, the Middle East, and Southeast Asia, expand its market reach, and strengthen its product offering.
Hono claims to have grown by twofold during the financial year 2022, with over 300 clients including Indigo Airlines, Spencer’s Retail, Kanmo Group, Dainik Bhaskar, Al Fardan Group, NBC Bearings, HDFC Bank, Medicover, Aakash+Byju’s, and over 1 million employees.
“We anticipate a significantly higher climb in HONO’s growth curve in the future. Furthermore, we value our positive and productive connection with Hono “Chaudhry explained.
Chaudhry will join the company’s Board of Directors as a result of this investment and will be actively involved in steering corporate operations.
“The Hono journey is even more thrilling now that Aakash Chaudhry and our new group of investors have joined us. Their presence and this strategic investment not only reaffirms our investors’ faith in the company, but also our and the market’s belief in the direction Hono is heading “Mukul Jain, the founder and CEO of Hono, stated.
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