Hono Raises $5M in Funding Round Led by Aakash Chaudhry

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New Delhi: HR tech start-up Hono announced on Wednesday that it has raised $5 million in a funding round led by Aakash + Byju’s chief executive Aakash Chaudhry.

Chaudhry has made a personal investment of $4 million, which is his first outside of the education sector. According to a press release, Hono raised the remaining funds ($1 million) from Hemant Sultania, Amit Khanna of Amaya Ventures and Harsh Gupta of Udayat Group.

Hono has over 300 customers, including IndiGo Airlines, Spencer’s Retail, Kanmo Group, Dainik Bhaskar, Al Fardan Group, NBC Bearings,

Medicover, Aakash+Byju’s.

Hono, according to its statement, has over 1 million employees on its AI-powered platform and achieved 2X growth in FY22. It now intends to expand its business and its vertical sales, and to double the number of customers, with the goal of supporting 5 million people on the HONO platform in the current FY23.

Hono is seeking to use the funds to expand its operations in India, the Middle East and Southeast Asia, to increase its market presence and strengthen its product offering.

“We expect Hono’s growth curve to show a much steeper increase here. Additionally, we appreciate the strong and constructive relationship with Hono, developed over years of association with them as a client,” said Chaudhry who will join the company’s board of directors and will also be actively involved in directing business operations.

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“Having Aakash Chaudhry and our new group of investors in the fold makes the HONO journey even more exciting. With this new momentum, we will be able to go further and do it globally, at scale,” said Mukul Jain, Founder and CEO of Hono.

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