Rapid, an India-focused Employer of Record (EoR), has raised USD 2,65,000 in funding in pre-seed a round. Aswin Choudhury, Deepak Panda, Ashok Padhy, Hemanth Kavuluru and a few angels are the funding partners who have led the round of funding. The round is still open and the startup is looking to raise USD 1 million. The funds will be deployed for product and early customer acquisition.
Navin Rungta, Founder of Rapid, said, “Investment in Rapid validates the business model and the unique challenges we are trying to solve that benefit the entire ecosystem. The team is truly inspired by their vote of confidence and looks forward to scaling the venture in the coming months. The funding will be utilized strategically for product and early customer acquisition, to ensure the platform is cutting-edge and supports the business vision appropriately. The company plans to utilize these funds to boost its growth in terms of product and early customer acquisition.”
The company said that it provides a platform where companies can hire and manage their Indian talents 24x7 using their innovative, simple, scalable infrastructure with serious privacy controls.