SaaS startup Eichiba scores first institutional cheque from Sirius One Capital
Summary
US and India-based Eichiba Labs Inc, a software as a service (SaaS) startup that seeks to create a Slack or WhatsApp-like experience around emails, has raised its first round of institutional funding. Anweshan Guha Roy, co-founder and CEO, told VCCircle that the startup has raised $1.35 million (around Rs 10 crore) from cross-border venture firm Sirius One Capital. The startup, founded last year, will use the capital to hire core members of the engineering and marketing teams with an aim to expand in the US, European Union and the UK, he said. Prior to this funding, the startup had raised angel investment from Sanjay Somasundaram in stealth mode in January last year. Eichiba later added cofounder Kumar Ujjwal, a University of North Alabama graduate.