AdvantageClub.ai, a global leader in employee engagement platforms, has raised $4 million in a funding round led by Axilor Ventures, alongside AFG Ventures, Bytez Ventures, Alteria Capital, and prominent angel investors.
The company aims to use the funding to strengthen its presence in the United States and Philippines, expanding from its established bases in India, the US, UAE, and the Philippines. The funds will also enhance AdvantageClub.ai's AI-powered platform, which offers enterprises tools for rewards, recognition, and engagement.
AdvantageClub.ai, founded in 2016 by Sourabh and Smiti Deorah, counts renowned clients like EY, Times Group, and Reliance Nippon Life Insurance. CEO Sourabh Deorah revealed, “We are on track to achieve $8 million in revenue this year, with a gross transaction value of approximately ₹1,000 crore ($118 million).”
This funding follows previous rounds that raised $3.3 million in 2021 from Jetty Ventures and others. Earlier, the company secured $1.7 million from Y Combinator and Kunal Shah.
Employee engagement platforms like AdvantageClub.ai are experiencing strong demand, driven by enterprises' efforts to retain talent. With platforms like Zaggle and Pine Labs entering this space, the competition is heating up.
Mumbai-based Atmosphere – The Store Makers, a specialist in retail and workspace fit-outs, has raised ₹5 crore in a seed round co-led by Artha Venture Fund and PIL Italica Lifestyle Limited.
The funding will boost Atmosphere’s offerings in the luxury retail, hospitality, and workspace design segments. The brand plans to leverage its state-of-the-art manufacturing and in-house design capabilities to deliver bespoke solutions for affluent consumers and global luxury brands.
Founded by Nilesh Rathod, Atmosphere boasts over 500,000 sq. ft. of premium retail projects. Its clientele includes top-tier brands like Emporio Armani, Michael Kors, Tumi, and Aisshpra Gems and Jewels. Its 60,000 sq. ft. facility supports intricate design development and high-precision manufacturing.
Atmosphere is also launching a design lab to refine its innovative capabilities, ensuring streamlined production for high-end projects.