BorderPlus Secures $7 Million in Funding Led by Owl Ventures
Deal News | Feb 10, 2025 | EIN
BorderPlus, co-founded by Mayank Kumar and Ayush Mathur, has secured $7 million in its inaugural institutional funding round led by Owl Ventures. Other contributors include prominent figures such as Flipkart Founder Binny Bansal and Oyo Founder Ritesh Agarwal. BorderPlus aims to address the shortage of skilled healthcare professionals globally by focusing on cross-border workforce mobility. The funds will enhance platform capabilities, fortify industry collaborations, and fuel expansion through mergers and acquisitions. With a B2B model, the startup plans to generate revenue by charging recruiters instead of individual workers, aspiring to reach Rs. 100 crore by FY27. Amit A. Patel, Managing Director at Owl Ventures, commended BorderPlus for its innovative approach towards solving global healthcare workforce challenges, emphasizing the role of shifting demographics.
Sectors
- Talent Mobility
- Venture Capital
- Healthcare
Geography
- India – BorderPlus is focused on placing skilled Indian professionals globally, and its operations are based in India.
- Global – The initiative addresses a global need for healthcare professionals, targeting countries such as India, the Philippines, Brazil, and parts of Africa.
Industry
- Talent Mobility – BorderPlus operates in the talent mobility industry, focusing on cross-border workforce mobility, particularly in healthcare.
- Venture Capital – Owl Ventures, a major participant in the funding round, is a venture capital firm specializing in educational technology.
- Healthcare – The startup addresses the global shortfall of healthcare professionals, indicating its involvement in the healthcare industry.
Financials
- $7 million – The amount raised by BorderPlus in its first institutional funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BorderPlus | Target Company | Company | A startup focused on cross-border workforce mobility, particularly for skilled Indian healthcare professionals. |
| Owl Ventures | Investor | Company | A venture capital firm leading the $7 million funding round for BorderPlus. |
| Mayank Kumar | Co-founder | Person | Co-founder of BorderPlus and former Co-founder of Upgrad. |
| Ayush Mathur | Co-founder | Person | Co-founder of BorderPlus and former President of Europe at Oyo. |
| Binny Bansal | Investor | Person | Founder of Flipkart and a notable investor in BorderPlus. |
| Mithun Sacheti | Investor | Person | Founder of CaratLane and a notable investor in BorderPlus. |
| Ritesh Agarwal | Investor | Person | Founder of Oyo and a notable investor in BorderPlus. |
| Apoorva Patni | Investor | Person | Director of Currae Healthcare and part of the Patni Group, a notable investor in BorderPlus. |
| Amit A. Patel | Managing Director | Person | Managing Director at Owl Ventures who emphasized the importance of BorderPlus's mission. |