The startup passed a special resolution to issue 8,829 compulsory convertible preference shares (CCPS) and 50 equity shares at an issue price of Rs 23,560.50 each in order to raise Rs 21 Cr, as per regulatory filing accessed by Inc42.
Founded in 2014 by Armaan Vananchal, Niranjan Nakhate, and Sri Ganapathy, Futwork was earlier known as Frapp. The startup helps businesses to build and scale up their tele-calling teams at zero fixed costs.
Prior to this, the startup reportedly secured $1 Mn in a seed funding round led by Blume Ventures.
Update | September 13, 12:30 PM
Mumbai based enterprise tech startup Futwork has secured a INR 21 Cr (around $2.49 Mn) in its Series A funding round led by the Michael & Susan Dell Foundation, along with participation from Artha Ventures and Simile Capital.