JoulestoWatts raises pre-Series A funding from Saha Fund, Manipal Global
Bangalore-based staffing solutions firm JoulestoWatts has raised an undisclosed amount in pre-Series A funding from Manipal Global Education Services Ltd and Saha Fund, according to a report in The Economic Times.
The company plans to use the funds to build its team and ramp up its technology platform.
“Having TV Mohandas Pai and Ranjan Pai as mentors and strategic investors is a huge boost for us,” Priti Sawant, founder of JoulestoWatts, told the paper.
An emailed query to the company seeking comment didn’t elicit any response by the time of filing this article.
Former Infosys finance chief Mohandas Pai is among the most active angel investors in the country. He invests in his personal capacity as well as through his venture capital firm Aarin, which manages stage-agnostic funds that support investee companies from incubation to exit.
Saha Fund was founded by Ankita Vashistha and invests in companies run by women and seeks to promote women in startups. Some of the companies Saha Fund has backed include Fitternity, Kaaryah and Stelae Technologies.
An alumnus of Cranfield School of Management in the UK, Ankita has worked in organisations like Aureos Capital, Abraaj group, Tholons Capital and Tholons Consulting. Ankita is managing partner at Tholons Capital, which focuses on seed and Series A rounds.
JoulestoWatts provides IT solutions, consulting, talent collaboration solutions, and sales and process outsourcing services. The startup has developed automated recruitment workflow and analytics-based smart search engine profile matching as part of its offerings.
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Saha Fund is a venture capital firm with $15 million assets under management. It provides early stage capital to start up companies operating in India. The firm seeks to invest in e-commerce, social media, mobile, cloud, analytics, education, analytics, healthcare, food tech and technology sectors. It typically invests between $900,000 to $2 million. The company was founded in 2015 and is based in Bengaluru, Karnataka.
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Manipal Global Education Services Pvt. Ltd. (formerly known as Manipal Universal Learning Pvt. Ltd.) is engaged in providing educational services. It offers distance, vocational and continuing education initiatives and setting up universities in developing countries. It also offers e-learning, online testing, nurse training, continuing medical education and twinning programs. It also provides banking and finance and information technology certification courses. The company was incorporated in 2001 and is based in Bengaluru, Karnataka with additional offices in Pune, New Delhi, Chennai and Kolkata. Manipal Global Education Services Pvt. Ltd. operates as a subsidiary of Manipal Education and Medical Group International India Pvt. Ltd.