Get All Access for $5/mo

CoffeeMug.ai Raises $625,000 From Paradigm Shift Capital And AngelList India In Pre-Seed Round The company plans to use this fund to accelerate its efforts to refine its AI-based matchmaking algorithm, double its existing user base of 50,000 globally, and connect them with genuine business opportunities like leadership level jobs and fundraising

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Unsplash

Singapore-based AI-powered 1:1 professional networking platform CoffeeMug.ai on Wednesday announced to have raised $625,000 in a pre-Seed round led by Paradigm Shift Capital and AngelList India. The funding round saw participation from marquee angel investors, including Archana Priyadarshni, IIM Indore Alumni Angel fund, Yagnesh Sanghrajka, and Aloke Bajpai.

"CoffeeMug will utilize these funds to cement their acquisition models to expand into the global scale and add more muscle to its AI-based matchmaking algorithm, which perfectly aligns with the Future of Work. Their unique platform-centric senior leadership only model streamlines networking and unlocks real opportunities for its members around recruiting, partnering, mentoring and investing verticals," said Govind Mundhra, founding general partner, Paradigm Shift Capital, who will be joining the board of CoffeeMug.

CoffeeMug plans to use this fund to accelerate its efforts to refine its AI-based matchmaking algorithm, double its existing user base of 50,000 globally, and connect them with genuine business opportunities like leadership-level jobs and fundraising.

"Warm Introductions are everything in business, and our model of making relevant connections virtually breaks down the barriers of traditional networking. CoffeeMug is poised to address this globally, helping people grow professionally by unlocking all types of opportunities including switching jobs, raising or investing money or meeting business experts to address challenges," shared Abhishek Sharma, co-founder, and chief executive officer, CoffeeMug.ai.

Launched in 2020 by serial entrepreneurs Abhishek Sharma and Dipti Tandon, CoffeeMug has witnessed consistent growth, with 50,000 members joining the platform within a few months of its inception. Currently, the platform is adding over 15,000 members every month to its community.

"CoffeeMug understood my motivations and networked me in the right opportunity with POSist. The platform is poised to disrupt global executive search as they make the right moves with brave choices," noted Ajay Singh, chief growth officer, POSist.

The company envisions empowering global leaders by helping them form valuable connections that further unlock real business opportunities. The AI matchmaker uses algorithms to help members find cofounders, jobs, investors, and mentors. Its matchmaking algorithms rely on various factors, including member experience, objectives, interest, and feedback from previous meetings to ensure mutual relevance among members.

"I found the right person to head one of our business verticals within a couple of meetings through CoffeeMug. Their matchmaking capabilities are truly remarkable". I think CoffeeMug will truly disrupt the professional networking space in the time to come," added Aakrit Vaish, co-founder and chief executive officer, Hapitik.ai.

The company is planning to expand its base across SEA and the US in the coming months.

Prabhjeet Bhatla

Former Staff

Business Solutions

Right Now, You Can Get More Than 310 Hours of IT Training for Just $50

Stay ahead in tech with the CompTIA Super Bundle.

Business News

Here's What the CPI Report Means for Your Wallet, According to JPMorgan and EY Experts

Most experts agree that there will be another rate cut next week.

News and Trends

growX Ventures Launches Fund II with a Target Corpus of INR 400 Cr

Fund II aims to target early-stage and growth-stage investments, backing 20–24 startups in deeptech sectors. It plans to deploy INR 10 crore in seed and INR 20–30 crore in Series B rounds.

News and Trends

Fast Fire Watch Guards: Protecting Your Business From Today's Fire Hazards

As a watch guard company, Fast Fire Watch Guards provides vigilant monitoring and immediate responses to signs of potential fire hazards in commercial spaces.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growing a Business

Why Lifelong Learning is the Key to Entrepreneurial Success

The key to success has less to do with obsessing over consuming the 'right kinds' of materials and more to do with how you use what you learn.