Michael & Susan Dell Foundation, others invest Rs 20.9 crore in Mumbai-based Futwork

Mumbai-based sales outreach platform Futwork has reportedly raised Rs 20.9 crore in a Series A funding round led by the Michael & Susan Dell Foundation.

According to the reports, Artha Ventures, Simile Capital, SCI Bureaux, D2C Insider Angels, and angel investor Abhishek Goyal also participated in the round. 

Prior to this round, the startup raised $ million in a seed round in 2022, led by Blume Ventures. The latest round brings its all-time raise to around $8.5 million.

Who invested how much

The Michael & Susan Dell Foundation led the round with an investment of Rs 14.17 crore, while Artha Ventures, Simile Capital, and others contributed the remaining amount.

Post-funding, the Michael & Susan Dell Foundation will hold a 19.92% stake in Futwork, with Simile Capital and Artha Ventures owning 10.08% and 5.64%, respectively.

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Futwork's offerings

Founded in 2014 by Armaan Vananchal, Niranjan Nakhate, and Sri Ganapathy, Futwork (formerly known as Frapp) specializes in helping businesses establish and expand outbound calling teams with zero fixed costs. 

The startup's platform supports various telephony applications, including customer feedback collection, product demonstrations, and session scheduling. Futwork's business model is designed to allow companies to scale their outbound operations efficiently.