Welcome Guest

Businessex.Com
Home News HR Fund invests $500k in Chennai-based HR start-up PiQube

HR Fund invests $500k in Chennai-based HR start-up PiQube

Tags: The HR Fund, PiQube, Analytics, Machine Learning, investment, entrepreneur

April 30, 2015 | COMMENTS ( 0 )

HR Fund invests $500k in Chennai-based HR start-up PiQube

The HR Fund, India’s first human resources (HR) focused private investment company has announced its third investment in PiQube – a Chennai based HR start-up, which aims to disrupt the hiring industry by the use of Analytics and Machine Learning.

The HR Fund will be investing $500k and will also have board presence in the investee company.

PiQube unique approach searches the entire Internet for candidate profiles allowing access to almost 100 per cent of the employable population. Secondly, PiQube’s algorithms use data patterns to identify the best matching candidates and provide a small set of interview-able candidates.

Proceeds of the investment will be used by PiQube for primarily expanding its technology and sales team along with aggressive geographic expansion – both within India and the South East Asia.

PiQube was founded by Jayadev Mahalingam. Jayadev has an engineering background and worked with Infosys, for approximately four years before striking out as an entrepreneur.

Jayadev, Founder & CEO, PiQube said, “The HR Fund with its deep expertise in the HR domain will help PiQube refine its product from a functional perspective. The investment will not only help us scale up and grow rapidly, but we are confident that we will become the new benchmark for recruitment processes going forward.”

He further added, “We are excited to have ‘The HR Fund’ as partners and look forward to growing the business together.”
According to Utkarsh Joshi, Principal, The HR Fund, “We are keenly interested in looking at the recruitment sector as we believe it is ripe for innovation. Over the years, a large chunk of processes in this segment have remained manual, leading to inefficiencies and high recruitment costs.  PiQube has the technology and the team to provide new dimensions to how new-age recruitment processes should work.”

The funds board and management team will be the advisors to the company, mentoring them with operational and strategic guidance – to lay a strong foundation for rapid future growth.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....