Business

Darwinbox Secures $40 Million Investment from Canada's TVG to Fuel AI Innovation and Global Expansion

HYDERABAD: HRTech Startup Darwinbox's Latest Funding Round

HRTech startup Darwinbox has successfully raised US$40 million (approx. Rs 350 crore) from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan. This significant investment marks a pivotal moment for the Hyderabad-based startup as it aims to accelerate its global expansion and innovation in Agentic AI.

Darwinbox raises $40 million from Canada's TVG

Strategic Investment and Future Plans

With this fundraise, TVG has acquired a stake in Darwinbox through primary and secondary transactions, showcasing confidence in the startup's vision and growth potential. The funding comes shortly after a $140 million round led by Partners Group and KKR, highlighting Darwinbox's rapid growth and the strong belief of its investors, including Microsoft, Salesforce, and Peak XV.

Global Expansion and AI Innovation

Darwinbox plans to utilize the new funds to fuel its Agentic AI-led innovation and expand its footprint, particularly in the North American market, where it has seen a 3X year-on-year growth since its entry in 2022. Darius Vakil, director of TVG India, emphasized the investment's role in leveraging TVG’s global network to support Darwinbox's growth among large enterprises worldwide.

A Vision for the Future of HR Tech

Co-founder Jayant Paleti shared his vision for Darwinbox, stating, "HR tech, when done right, can unlock outsized value for every enterprise. Darwinbox is building the next-gen HCM company, global by design, AI-first at the core, and focused on customer outcomes." This investment is a stepping stone for Darwinbox to scale to new heights and redefine the HR technology landscape.