June 17, 2018 | By Jayce Builds in India Jayce Building has just raised over Rs1,200,000 ($15,500) from Seed Capital, the seed fund behind Seed Capital’s $20 million Series A round.
The seed funding will help Jayce build a product that will help blockchain startups find and hire talent.
“In 2017, our team had about 25 engineers who were on an average salary of Rs. 2 lakh, and we had one engineer who was making Rs. 25 lakh per month.
In 2019, we had two engineers making Rs 20 lakh per week,” said Jayce CEO, Ramesh K. Rao.
In a statement, Jayce founder and CEO Rameshek Sharma said, “We are extremely excited about the potential that this investment will bring to our team and the business.”
While the fund’s investors include Andreessen Horowitz, Kleiner Perkins Caufield & Byers, and Sequoia Capital, Jaye has also received support from a group of investors including Indian e-commerce firm Flipkart, which is looking to scale its operations.
“We’re very excited about this investment from Andreessen and Kleiner, and look forward to working with Jayce and its team on their business strategy and technology stack,” said Flipkarts CEO, Ankit Panda.
“The growth of blockchain and the rapid adoption of blockchain technologies are already significant, and this investment by Andreessen will help the company continue to grow its business as well.”
For more details, read our interview with Jaye Founder Ramesher Sharma.