Mukund Jha, co-founder and former CTO of Dunzo, is negotiating to raise Rs 50-80 crore (approximately $6-10 million) from Together Fund for his new startup, according to news rport by Moneycontrol. This funding effort follows Jha’s departure from Dunzo in October 2023, as reported earlier.
Jha is in the process of launching a generative artificial intelligence (Gen AI) company that aims to automate quality assurance (QA) processes. This venture will blend AI with SaaS to enhance the QA phase, which involves testing, error detection, and feedback to ensure product quality.
The move comes amid a trend where many top executives are leaving established startups to launch their own ventures, often seeking more significant stakes in new enterprises compared to their roles in larger, mature startups.
Jha, who has previously worked with Google in New York and has founded Wisdom.ly and Habet, is raising funds while Dunzo is seeking capital to stabilize its operations.
Together Fund, founded in 2021 by Girish Mathrubootham of Freshworks, Manav Garg of Eka Software, and Shubham Gupta from Matrix Partners India, had initially raised $85 million and later increased its corpus to $150 million in its second fund. The fund has invested in over 20 companies in various SaaS application areas and verticals such as healthcare and cloud-connected devices.
