Aakash+BYJU'S' Chaudhry Invests $4 Million in HONO

Aakash Chaudhry, Managing Director, and deep-tech investor at Aakash+BYJU`S, a leading test preparation company, has led a $4 million Series A funding round for HR automation firm HONO.

In order to double the size of its business, HONO has raised a total of $5 million in its Series A funding round which includes 1 million from other individual investors.

Globally, the market for AI-enabled digitized HR tools and solutions is estimated at approximately $24 billion and is growing further to $23 billion annually. As a deep tech investor, Chaudhry said he would continue to consider investing in companies that directly impact people, such as human resources and education.

Chaudhry commented on HONO's commitment to Aakash+BYJUs over the last 5-6 years, the latter was able to expand staff capabilities and use HONO's AI and technology tools to be one of the largest training and development teams in the test preparation industry. 

He further said that there have been several challenges in people management post-Covid, which are faced by even large companies that cannot be met without cutting-edge HR solutions. He also said that Aakash Institute has transformed from an archaic system to digitized HR solutions with HONO. 

Aakash Chaudhry will also join the board of directors of HONO with this investment and will be actively involved in guiding its business operations.