UAE - Mubasher: ADQ, an Abu Dhabi-based holding company, has contributed $5 million to Verloop.io, an Indian startup providing automated customer services, CNBC TV18 reported.
The Indian startup has raised the fund during a Series A funding round, led by Alpha Wave Incubation (AWI) which is a venture capital fund launched by ADQ and managed by New York-based Falcon Edge Capital to support early-stage businesses in India and Southeast Asia.
With over 100 million users, Verloop.io is the first startup to get investment from Falcon Edge backed by Abu Dhabi's ADQ.
The Founder and CEO of Verloop.io, Gaurav Singh, said that the fund will be used in supporting the startup's expansion strategy in the Middle East, Southeast Asia, and the US and hiring top talents in the data science and engineering sectors.
It is noteworthy to mention that in May, ADQ launched the AED 1.1 billion AWI Fund, which is located at the Abu Dhabi Global Market (ADGM).
