HR Tech Startup Hono Raises Over Rs 38 Crore in Funding

Human resource startup Hono announced on Wednesday that it has raised $ 5 million in a funding round led by Aakash Chaudhry, managing director of test preparation firm Aakash+Byju's.

Chaudhry has invested $4 million in the round and raised $1 million from other private investors such as Hemant Sultania of Aakash Educational Services Ltd (AESL), Amit Khanna of Amaya Ventures, and Harsh Gupta of Udayat Group.

According to the company's statement, Hono is looking forward to using the new funds to expand its business in India, the Middle East, and Southeast Asia, increase its market presence and strengthen its product offerings.

Hono, with more than 300 customers, including Indigo Airlines, Spencer's Retail, Kanmo Group, Dainik Bhaskar, Al Fardan Group, NBC Bearings, HDFC Bank, Medicover, Aakash+Byju's, and more than 1 million employees, is in the financial process. It claims to have doubled its growth during the financial year 2022. With this investment, Chaudhry will join the company's board of directors and be actively involved in leading the business.