Total amount raised
₹2.5 Millions
Latest funding date
Location
Upraised has successfully raised ₹2,500,000 in a Seed round on August 28, 2023, with Pontaq as the investor. The platform offers comprehensive recruitment solutions using cognitive and task-based evaluation to match and rank candidates.
Keep reading to explore the intricacies of Upraised's fundraising journey and the investors backing this innovative platform.
What Is Upraised?
Upraised, founded in 2020, is based in Kolkata, West Bengal, India. The company specializes in providing comprehensive recruitment solutions through cognitive and task-based evaluations to match and rank candidates. With a team of 11-50 employees, Upraised continues to innovate in the recruitment industry.
How Much Funding Has Upraised Raised?
- Seed Round
- Amount Raised: ₹2,500,000
- Date: August 2023
- Lead Investors: Pontaq
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enter the US and UK markets, upgrade the technology stack, hire talent, and for marketing.
Total Amount Raised: ₹2,500,000
Current Valuation: Not publicly disclosed
Key Investors
Here are the major investors in Upraised:
- Pontaq VC
- Details: Pontaq is a UK-based venture capital firm. It focuses on early-stage technology startups.
- Investment Focus Areas: Technology startups, early-stage companies.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Pilani Innovation and Entrepreneurship Development Society (PIEDS)
- Details: PIEDS is an initiative by BITS Pilani to foster innovation and entrepreneurship. It supports students and alumni in their entrepreneurial ventures.
- Investment Focus Areas: Innovation, entrepreneurship, student and alumni startups.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Nidhi entrepreneurship-in-residence (EIR) grant from the Department of Science and Technology (DST), Govt of India through IIM-Udaipur Incubation Centre
- Details: This grant is provided by the Department of Science and Technology (DST), Govt of India. It supports early-stage startups through grants and incubation.
- Investment Focus Areas: Early-stage startups, various sectors.
- Notable Investments: Specific notable investments are not mentioned in the sources.
Information about other major investors was not found in the provided sources.
What's Next for Upraised?
Upraised is poised to seize significant opportunities by expanding into the US and UK markets. This move could open doors to a larger customer base and increased revenue streams. The company plans to upgrade its technology stack, which will enhance its service offerings and attract more clients.
Future fundraising opportunities seem promising as Upraised's expansion and technological advancements will likely require additional capital. This could attract more investors, enabling the company to scale further. However, challenges such as competition in the HRtech space and technological hurdles in maintaining the platform may arise. Effective utilization of the current funding will be crucial for sustained growth.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Upraised and gather other critical business insights. Sign up for free and start making informed decisions today.
