Sales outreach platform Futwork raises Rs.21-Cr led by MSDF

Navi Mumbai-based sales outreach platform Futwork has raised INR 20.9 crore (about USD 2.5 million) in a Series A round led by the Michael & Susan Dell Foundation (MSDF), which contributed INR 14.17 crore. Artha Ventures, Simile Capital, SCI Bureaux, D2C Insider Angels, and angel investor Abhishek Goyal cumulatively invested the rest. The firm would issue 50 equity and 8820 preference shares at INR 23,650 each to investors.The company will use the new funds for growth and for working capital needs.Following the investment, MSDF will hold a 19.92% stake in the company while Simile Capital and Artha Ventures will command 10.08% and 5.64%, respectively.The company had raised USD 1 million in its seed round led by Blume Ventures in 2022.Founded in 2020 by Armaan Vananchal, Niranjan Nakhate, and Sri Ganapathy, Futwork aims to help businesses build and expand their outbound calling teams with zero fixed costs.