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inFeedo raises $700,000 from Y Combinator & others

inFeedo, a SaaS-based people analytics startup, has raised $700,000 financing from Y Combinator, a Silicon Valley-based startup incubator.

Angel investors like Innov8 founder Ritesh Malik, Lenskart co-founder Peyush Bansal, former Facebook director Anand Chandrashekharan, Cisco’s Vinod Muthukrishnan, Inventus Law founder Anil Advani, and Kwench founder Sunder Nookala also participated in the funding round along with 100x Entrepreneur Fund that led an oversubscribed syndicate via LetsVenture.

The startup had earlier raised a seed funding of $200,000 from a clutch of angel investors led by Redcliffe Capital managing director Dheeraj Jain and People Group founder Anupam Mittal in December 2016.

inFeedo has developed an artificial intelligence-powered chatbot called Amber that has conversations with remote employees to help chief executives and human resource (HR) leaders measure employee engagement, analyze individual employee and organizational sentiment, predict attrition as well as identify culture, diversity, and leadership gaps that often get unnoticed.

“Our main aim to fundraise during the pandemic was to double down in South-East Asia and build a leadership team that helps customers remotely connect with their employees better and comes out of COVID-19 stronger than before,” says inFeedo founder and chief executive Tanmaya Jain.

Going forward, the Gurugram and New York-based startup plans to introduce improved capabilities to engage remote workforces, leadership and manager effectiveness, and ability to run pulse surveys.

inFeedo claims to have over 100 customers across more than 50 countries including enterprises like Airtel, Lenovo, Unilever, GE Healthcare, Tata Group, Puma, and Oyo among others.

“Having benefited directly from Amber at Oyo, as a customer, I was already motivated to invest in inFeedo as a company with a strong value system that’s always prioritized customer advocacy over investor relations”, says Ritesh Malik.

Published in ETTech on August 4 | Source:

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