TraqCheck raises $8M led by IvyCap Ventures

TraqCheck, a HR tech startup originally founded in New Delhi but now headquartered in London, has raised $8 million in Series A round of funding led by IvyCap Ventures with participation from IIFL.

TraqCheck said it will use this capital for expansion into the European market as it looks to get deeper with the SMB and enterprise customers for its background screening agent - Trace, while scaling go-to-market for its recently launched real-time conversational sourcing agent, Nina.

Founded by Armaan Mehta and Jaibir Nihal Singh, TraqCheck has built AI agents that aids recruiters to automate the process of sourcing candidates, screening resumes, and coordinating background checks.

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TraqCheck was previously backed by angel investors including Peyush Bansal, founder of Lenskart, and Alok Oberoi, Chairman of Everstone Capital.

“The shift from SaaS to AI-native systems is happening faster than most companies realise,” said co-founders Armaan Mehta and Jaibir Nihal Singh. “Software required humans to operate it. Agents execute autonomously. We are building systems that collaborate and make decisions, not just tools that display information.”

TraqCheck claims that it has grown to nearly 300 enterprise customers across India and Europe, including mid-market and large organisations using Trace for automated background verification.

IvyCap Ventures Founder and Managing Partner, Vikram Gupta, said, “TraqCheck is building a compelling DeepTech AI-native platform that reimagines how hiring workflows are executed. The team has demonstrated strong product vision and execution in applying autonomous agents to solve real enterprise challenges in talent acquisition and verification.”

According to this startup, as enterprises experiment with AI across departments, HR may be one of the earliest operational categories to see full automation. It is betting that the future hiring team will include fewer dashboards and more digital colleagues.

Mehekka Oberoi, Fund Manager, IIFL Fintech fund, said, "At IIFL Fintech Fund, we back companies building deep, defensible infrastructure at the intersection of AI and enterprise workflows. TraqCheck is exactly that — a vertically integrated AI-native platform that is not layering intelligence onto legacy HR software, but replacing it altogether.”