Hyderabad-based startup, Darwinbox has raised ₹25 Crore ($4 million) in funding from Lightspeed India Partners. Lightspeed Venture Partner is a California-based VC firm and was planning for so long to invest in Indian Startups, which can promote their service in India and can secure a better position in the market. Apart from this, there were some serial investors and former partners who participated in this round, including Endiya Partners, Mohandas Pai’s 3one4 Capital and StartupXseed Ventures.
Rohit Chennamaneni, co-founder of Darwinbox stated that “Lightspeed has been investing in enterprise products globally since the past two decades and this is one of their first enterprise bets in India, that experience will help us a lot to innovate on the product and guide us on how to go global.“
Dev Khare, a partner at Lightspeed India Advisors Partners commented that “At all sizes and in all industries, businesses succeed when their employees and managers are engaged for maximum productivity and potential. As a result, human capital management software is core to the success of every business, Darwinbox is leading the charge in taking human capital management beyond the HR department to all employees with a highly user-friendly and configurable user experience.“” he reiterated that he’ll also be joining the company’s board.
Over 40 clients have availed the service of Darwinbox in past one year and connect 100,000 employees with this platform to provide the world-class facility and to offer discounts seasonally. The company is focusing more towards mid and large enterprises in India and planning to add 100 more clients to this network.