HR tech startup TraqCheck has raised $8 million (around ₹74.6 crore) in a Series A funding round led by IvyCap Ventures, along with participation from IIFL. The company was founded in New Delhi in 2020 and is now based in London. It is building what it calls a “Human Operating System” that uses AI to manage hiring tasks automatically.
Building Smarter Hiring with AI
TraqCheck is trying to change how companies hire by replacing manual work with smart AI tools. Instead of using traditional software dashboards, its platform uses AI agents that can handle the full hiring process. The company has two main products. The first is Trace, which helps companies verify candidates by checking their identity, education, and criminal records. It is already being used by around 300 companies across India and Europe.
The second product is Nina, an AI-powered hiring assistant that works 24/7. It finds candidates, starts conversations, answers their questions, and shortlists the best ones for hiring managers. This tool is available on a subscription basis, making it easy for both small and large companies to use.
Plans to Expand in Europe
With the new funding, TraqCheck plans to grow its presence in Europe. It will focus on getting more companies to use its background verification platform and AI hiring tools.
The startup also plans to build more AI-based products for hiring, compliance, and workforce management. Since it is entering Europe, it is also working on following strict data protection rules like GDPR to safely handle employee data.
Fast Growth but High Spending
TraqCheck was founded by Armaan Mehta, Jaibir Nihal Singh, and Rishabh Jain. The company has grown quickly over the past year. For the financial year ending March 2025, it reported revenue of ₹8.71 crore, showing a strong growth rate.
However, like many fast-growing startups, it is spending heavily to expand. It had also raised earlier funding from investors like Peyush Bansal’s family office and others in 2024 and 2025. Even after multiple funding rounds, the founders still hold a large share in the company. With a team of around 47 employees and clients like Bajaj Capital and Reliance Retail, TraqCheck is now aiming to grow globally and strengthen its AI-driven hiring platform.