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EdgeNetworksMedia & Events Kalaari Capital backs EdGE Networks with $4.5 mn funding

Kalaari Capital backs EdGE Networks with $4.5 mn funding

EdGE Networks raises $4.5 million funding in series A round of funding led by Kalaari Capital and Ventureast.

Bengaluru-based artificial intelligence-driven human resource solutions company EdGE Networks has raised $4.5 million (Rs 29 crore) in series A round funding led by Kalaari Capital and venture capital firm Ventureast also participated in the round.

The company aims to use the raised funds to strengthen its product offerings for workforce optimisation and talent acquisition. The proceeds will also help the company to enhance its operations geographically.

“This funding will allow us to strengthen our technology, expand our team and move forward to realize our global ambitions,” said Arjun Pratap, founder and CEO of EdGE Networks.

In 2010, the tech-based HR solution provider EdGE Networks was founded by Arjun Pratap. It is focused on the development of workforce planning solutions with the use of artificial intelligence and data science technology solutions.

Pratap added, We are delighted to partner with our new investors whose collective track-record and experience of building companies will be invaluable as we work together to build a best-in-class HR technology company to transform workforces.

Bengaluru-based venture capital firm Kalaari Capital is focused on investing in technology-driven companies in India.

Sumit Jain, Partner at Kalaari Capital said, AI-driven solutions are fast taking main-stage in solving real problems faced by enterprises and opening up opportunities for step changes in business processes and cost innovations. EdGE Networks is at the forefront of AI-led HR innovation and we are excited to partner with them on their journey.

Source: http://www.businessex.com/news/Kalaari-Capital-backs-EdGE-Networks-with-mn-funding/243

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