Pune-based startup Hugefly Technologies, an e-commerce personalization and recommendation platform, has raised an undisclosed sum in funding from Mayank Singhal (Associate Director at Temasek Holdings), Mohit Gulati (co-founder, Oliphans Capital) and Raj Iyer (CEO and CMD, icustommadeit.com).
Started by Dhruv Chaudhari and Amit Chaudhari in January this year, Hugefly Technologies offers a highly proprietary technology-enabled solution to e-commerce companies to help significantly reduce search time on the platform, offer highly relevant and personalized search results across users and create very targeted and customized recommendations on a real-time basis.
Dhruv Chaudhari, CEO, Hugefly said, “The money we have raised will help tremendously in hiring additional talent and upgrading systems and operations. We plan to expand our team significantly over the next six months and are looking at recruiting top talent from IITs across the country. This round will also allow us to accelerate outreach to more e-commerce platforms across the world that can benefit from Hugefly’s core solution.”
The company will likely raise an institutional funding round over the next six months and has initiated discussions with a few global venture firms.