PE-VC Fund Investments
HR-tech startup TraqCheck raises $8-M from IvyCap Ventures, IIFL
TraqCheck , a Delhi- and London (UK)-based HR-tech startup, has raised USD 8 million in a Series A round of funding led by IvyCap Ventures with participation from IIFL.Founded by Armaan Mehta and Jaibir Nihal Singh, TraqCheck has built AI agents that help recruiters automate the process of sourcing candidates, screening resumes, and coordinating background checks. TraqCheck was previously backed by angel investors including Peyush Bansal (founder of Lenskart) and Alok Oberoi (Chairman of Everstone Capital).TraqCheck claims to have grown to nearly 300 enterprise customers across India and Europe. It will use the fresh capital to expand in Europe, aiming to deepen its engagement with SMB and enterprise customers for its background screening agent, Trace, while also scaling its go-to-market strategy for the recently launched real-time conversational sourcing agent, Nina.
Between Apr 2024 and Sep 2024, TraqCheck had attracted about USD 2 M from Caret Capital and others.For FY25, TraqCheck had reported about INR 8 Cr in Operating Income and about INR 2 Cr in Net Loss.
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