Darwinbox, Indian cloud-based workforce management and analytics solutions firm, has secured up to $15 million in its Series B funding round led by venture capital (VC) firm Sequoia India.
Previous investors including Lightspeed India Partners, Endiya Partners and 3one4 Capital also participated in the round, bringing total capital raised by Darwinbox so far to about $20 million.
Darwinbox will leverage most of the new funds to foray into markets such as Malaysia, Vietnam and the Philippines and ramp up its team in these regions.
Furthermore, another portion of the proceeds from the round will be used by the firm to beef up its research to leverage deep-technologies like artificial intelligence and machine learning to aid organisations in their decision-making process.