Total amount raised
₹2.5 Million
Latest funding date
08/01/2023
Location
Upraised has successfully raised funding through a single round, with the venture capital firm Pontaq as its investor. The platform continues to attract attention for its innovative approach and potential in the market.
Keep reading to explore the intricacies of Upraised's fundraising journey and the investors backing this promising platform.
What Is Upraised?
Upraised is a private company based in Kolkata, West Bengal, India, specializing in human resources and recruiting. The company employs between 11 and 50 people.
Upraised offers comprehensive recruitment solutions, utilizing cognitive and task-based evaluation to match and rank candidates. The company has raised funding through a Seed round.
How Much Funding Has Upraised Raised?
- Seed Round
- Amount Raised: $30,000
- Date: August 2023
- Lead Investors: Pontaq
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enter the US and UK markets, upgrade its technology stack, hire talent, and for marketing.
Total amount raised: $30,000. Current valuation: Not publicly disclosed.
Key Investors
- Pontaq
- Details: Pontaq is a UK-based venture capital firm that invests in early-stage technology startups. They were the sole investor in Upraised's Seed round.
- Investment Focus Areas: Technology, early-stage startups.
- Notable Investments: Upraised.
- Pilani Innovation and Entrepreneurship Development Society (PIEDS)
- Details: PIEDS is an initiative by BITS Pilani aimed at supporting innovation and entrepreneurship. They have previously funded Upraised.
- Investment Focus Areas: Technology, education, innovation.
- Notable Investments: Specific notable investments are not mentioned.
- Nidhi entrepreneurship-in-residence (EIR) grant
- Details: This grant is provided by the Department of Science and Technology (DST), Govt of India, through the IIM-Udaipur Incubation Centre. It supports early-stage startups.
- Investment Focus Areas: Various sectors through grants and incubation.
- Notable Investments: Specific notable investments are not mentioned.
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, hire new talent, and invest in marketing to support this expansion.
Future fundraising efforts are likely as Upraised seeks additional capital to fuel its growth. The company may attract more venture capital as it demonstrates success in new markets. However, challenges such as competition from other HRtech startups and regulatory hurdles in international markets could pose obstacles. Ensuring a robust and scalable technology stack will be crucial for sustained growth.
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