PiQube gets seed funds from HR Fund for $500K. PiQube is Chennai based company founded by Jayadev Mahalingam. The company has developed several interesting solutions in the HR field. PiQube has developed technology solutions first searches for candidate profiles and then uses algorithm based data patterns to identify the best matching candidates and provide relevant set of candidates whom can be interviewed.
PiQube was founded in 2012 by Jayadev Mahalingam. He has graduated in Bachelor of Engineering in Mechanical Engineering from University of Madras in 2004. He started his career as Design Engineer in Infosys Technologies Ltd. Jayadev was involved in Aircraft Design and specialised in Aircraft Wing Designing. He was part of Airbus A350 Research and Development program, worked with Airbus UK for 2 years. After a stint of 3.6 years he joined as Manager in Work Protocols in 2008. The company is a recruitment advisory and consulting services company.
In Work Protocols, he was handling end to end recruitment, assisted companies in setting up of engineering, manufacturing and infrastructure too. In August 2010, he became Partner of Work Protocols. He handled key responsibilities such vision execution, key account management, business development and top management hiring. In 2012 he became director of strategy and business development for Drone Network.
In 2014 he founded PiQube and he positions himself as Chief Problem Creator for the company. Jayadev joined SLP – Startup Leadership Fellow program in 2013 and completed the same in 2014.
PiQube received of $500K from the HR fund, India’s only HR focused private investment company. PiQube will use the funding for expanding technology and sales teams in India and Southeast Asia.
Gurgaon based HR fund is founded and promoted by Varun Talwar, serial entrepreneur and founder of the Withya Group and Pankaj Bansal, Co founder and Chief Executive Officer of Peoplestrong.
After funding Utkarsh Joshi, Principal Partner of the fund said “We are interested in looking at the recruitment sector as we believe it is ripe for innovation. Over the years, a large chunk of processes in this segment have remained manual, leading to inefficiencies and high recruitment costs. PiQube has the technology and the team to provide new dimensions to how new-age recruitment processes should work.”
The fund provides seed and startup capital to HR companies that are operating in India. They seek to invest in professional employer organization, contingency staffing, training and HR Software Companies. This funding is 3rd and earlier they had invested in HR media platform People Matters and Peoplestrong HR Services P Ltd.
Recently Babajobs received $10 million from SEEK Limited, MyNoticePeriod, an online recruitment portal received Rs.18 Crores from IDG Ventures and Aasaan Jobs raised seed funding of $1.6 million from Inventus Capital Partners and IDG Ventures India.