HR tech startup Hono said on Wednesday it had raised $5 million (around Rs 3.9 crore) in a funding round led by Aakash Chaudhry, managing director of exam preparation firm Aakash+Byju’s. Chaudhry invested $4 million in the round, and other individual investors such as Hemant Sultania of Aakash Educational Services Ltd (AESL), Amit Khanna of Amaya Ventures and Harsh Gupta, Udayat Group raised $1 million.

Hono is looking to use the fresh capital to expand its business in India, the Middle East and Southeast Asia, increase its market footprint and strengthen its product offerings, the company statement said. Hono has over 300 customers such as Indigo Airlines, Spencer’s Retail, Kanmo Group, Dainik Bhaskar, Al Fardan Group, NBC Bearings, HDFC Bank, Medicover, Aakash+Byju’s, and over 1 million employees of Hono claims to have triple growth in the current financial year.

“We expect HONO’s growth curve to exhibit a steeper upward trend during this period. Additionally, we value a strong and constructive relationship with Hono,” Chaudhry said. With this investment, Chowdhury will join the company’s board of directors and actively participate in directing business operations.

“The addition of Aakash Chaudhry and our new team of investors makes Hono’s journey even more exciting. Their presence and this strategic investment build our investors’ confidence in the business and restore our and the market’s confidence in Hono,” said Mukul Jain, founder and CEO of Hono.