The investment will help ZingHR leverage its AI-based
software bots, conversational AI and document AI to add
capabilities and features to its human capital management (HCM)
offerings
The deal will also enable ZingHR to increase the
efficiency of its HRtech products by 95-100%
The investment comes almost a year after ZingHR received
$10 Mn from Tata Capital Growth Fund
in exchange of 33% equity in the startup
MILPITAS, Calif., March 18,
2023 /PRNewswire/ -- HRtech startup ZingHR has made a
strategic investment in Silicon Valley-based SaaS startup
LokiBots.
The investment will help ZingHR leverage its AI-based software
bots, conversational AI and document AI to add capabilities and
features to its human capital management (HCM) offerings. It would
further help ZingHR to expand its AI-based products and
services.
ZingHR said the investment will also help it increase the
efficiency of its HRtech products by 95-100%.
The funding comes almost a year after ZingHR received $10 Mn from Tata Capital Growth Fund in exchange
of 33% equity in the startup.
Founded in 2014 by Prasad Rajappan,
the Mumbai-based startup offers
cloud-based human capital management (HCM) solutions including
talent acquisition, talent management, payroll and alumni
management, among others to small and medium-sized enterprises.
ZingHR shared that it has added machine learning, deep learning and
blockchain technology to its current products and enterprise
offerings.
"Our aim with such strategic relationships is to set a new standard
in speed, efficiency, and productivity in the HRtech industry and
deliver unparalleled value to our clients. This can be also
leverage by our customers for many of their non-HR processes like
Accounting, Sales, Procurement and many others," said, Prasad Rajappan, founder and MD of ZingHR.
The HRtech startup claims to have a client base of 1000 companies
and offers services in 26 languages.
LokiBots, on the other hand, is a four-year-old startup that helps
non-tech savvy people create software bots and automate repetitive
computerized tasks.
LokiBots also enables digitization using ML-based forecasting and
predictions, document AI and conversational AI.
"Our goal has always been to bring the power of intelligent
automation to businesses of all sizes, and with ZingHR's vast
clientele and financial support we will be able to strengthen our
Go-To-Market initiatives. It will also enable us to accelerate our
mission of democratising intelligent automation for businesses,"
said Srilatha Charuvu, cofounder and CEO of LokiBots.
Contact:
***@lokibots.com
Photos:
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SOURCE LokiBots, Inc.