Co-founder and former CTO of Dunzo Mukund Jha | Image: LinkedIn
Mukund Jha, co-founder and former CTO of Dunzo, is in talks to secure a funding of Rs 50-80 crore (roughly $6-10 million) from Together Fund for his startup, according to a report by Money control.
Jha is focused on building a generative artificial intelligence (Gen AI) company aimed at automating quality assurance (QA) processes for businesses. This new company aims to streamline the QA process, which involves creating and running tests, identifying bugs, and providing feedback to ensure products meet quality standards.
In addition to Together Fund, Jha has previously collaborated with Y Combinator, though the current status of those talks remains unclear. Jha brings considerable experience to his new venture, having worked at Google in New York and co-founded companies including Wisdom.ly, a group video platform for virtual meetings, and Habet, a smart goal-tracking platform.
This fundraising effort follows Jha’s exit from financially struggling hyperlocal delivery company Dunzo in October 2023.
Meanwhile, Dunzo, which Jha co-founded and worked at from 2015 to 2023, continues to struggle with funding and operations. The hyperlocal delivery startup, backed by Reliance Retail, has faced stiff competition from the likes of Zepto, Swiggy and BlinkIt. Despite raising around $500 million, Dunzo has struggled to secure further investment and maintain payroll. Speculations surfaced in February that Flipkart was looking to acquire the platform, however, there has been no update on the matter since then.
Together Fund, set up in 2021 by Girish Mathrubootham of Freshworks, Manav Garg of Eka Software, and Shubham Gupta (formerly of Matrix Partners India), has raised $150 million in its second fund announced in 2023. The fund has invested in over 20 companies including DhiWise, SpendFlo, SecureDen, and TopLyne, spanning horizontal SaaS applications, vertical SaaS in healthcare, and new categories such as cloud for connected devices. It is India’s first operator-led venture capital firm founded to empower India’s Software-as-a-Service (SaaS) entrepreneurs.
First published: July 30, 2024 | 17:28 IS
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.