Powerhouse Ventures leads USD 1.1M Round into Bigyellowfish, an Employee Experience Platform
Summary
The company plans to double down and increase revenues from safety-intensive industries like maritime, aviation, oil & gas, manufacturing, and logistics and expand its operations across the US and the Middle East in the coming years. Global Safety Tech & Engagement market opportunity is pegged at around USD 21 Billion, growing at a CAGR of 7.5 per cent, and it is this market opportunity that Bigyellowfish has targeted as its Launch Addressable Market.Soma Sundar Gollakota, Co-founder of Bigyellowfish Technologies, commenting on the capital raise, said, "We are excited to have our investors onboard, believing in our vision and supporting us in this journey as we take the next leap towards growth." His partner and Co-founder of Bigyellowfish, Kunal Pancholi, further added, "We are doubly happy that clients have recognized the uniqueness and effectiveness of our platform to add value to their safety & behavioral risk management goals. We congratulate Bigyellowfish on this recent fundraise and look forward to being part of their successful growth and expansion," said Haymon Sinapius, Investment Manager of Innoport, the venture capital unit of the Schulte Group.Commenting on the fundraise Ashvin Chadha, Managing Partner, Anicut Capital said, "The employee well-being and engagement market in India primarily overlooks the sector which involves severe mental stress, isolation, and trauma arising due to the nature of the work. It is a novel approach to managing, securing, and protecting the human workforce in safety-critical industries leveraging Behavioural Psychology, Data Analytics (AI), and Gamification (Nudge Mechanics).