HR tech company, Zimyo, raises seed funding of Rs 11 cr

Founded by Kumar Mayank and Ajay Kadyan, around two years back, Zimyo operates in the HR Management software space

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Gurugram-based Zimyo Consulting, which is into HR technology, has raised around Rs 11 crore as seed funding from Singapore-based Beenext

Zimyo will use the fund to expand its business. It will beef up the team and also strengthen its technological infrastructure.

Founded by Kumar Mayank and Ajay Kadyan, around two years back, Zimyo operates in the HR management software space, covering talent acquisition, employee self-service, payroll administration, performance monitoring and expense recording.

One of the founders, Kadyan, worked as an engineer with Authbridge, another company that operates in the HRspace, while Mayank is a passout of IIM Lucknow, and has worked with organisations such as Equitas Small Finance Bank.

Singapore-based Beenext, has invested in a few other Indian startups, which includes Terra.do, an education-technology company, and Blue Sky Analytics, a climate analytics firm.

Indian startups in the HR space have been catching the attention of global investors. In the past, many HR service providers have raised funds, including Talview Inc., which raised $6.75 million in a Series A round of funding from Storm Ventures, Inventus Capital, Eileses Capital and Emergent Ventures, in August 2019. This year, in June, Kredily raised $750,000 in a seed funding round led by Chinese investor, Fosun RZ Capital.

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