MANILA, Philippines, Dec. 2, 2024 /PRNewswire/ -- AdvantageClub.ai, a leader in employee engagement solutions, has raised $4 million in its latest funding round, bringing its total funding to $11 million. The round was led by Axilor Ventures, with participation from AFG Ventures, Prasanna Sarkar (ex-CTO of Rippling), Bytez Ventures, and existing investors.
They plan to use the funds to strengthen its presence in the US and Asia, where company has already seen success. The company will also focus on expanding its product suite in employee recognition, rewards, and engagement, with plans to introduce new tools and features to enhance employee experience.
Sourabh Deorah, CEO & Co-founder of AdvantageClub.ai, expressed excitement about the investment from investors, saying, "This funding will help us double down on the US and Asia, expand our product suite, and continue building AI-driven solutions like Adva to engage employees in new ways." COO & Co-founder Smiti Bhatt Deorah added, "Our employee-first approach has made us the top choice for organizations, we win 65-70% of new recognition deals in Asia and have expanded successfully into the US."
Ganapathy Venugopal, founder and CEO of Axilor Ventures, the lead investor in this round, has been a long-time supporter of AdvantageClub.ai said, "Companies are in search of good options to improve employee engagement and strengthen their employer brand. AdvantageClub.ai's personalised, scalable and global platform offers a best-in-class solution to employers who put their employees first. We are excited to continue our partnership with Sourabh and Smiti as they look at their next phase of exciting growth."
About AdvantageClub.ai
AdvantageClub.ai is a global AI powered employee engagement and rewards platform with offerings like rewards & recognition, flexible benefits, surveys, moments that matter, and communities on a single platform. AdvantageClub.ai has over 5 million users, a presence in over 100+ countries, 1000+ clients, and 10,000+ redemption options. Founded in 2016 by UCLA postgraduates Sourabh and Smiti Deorah, AdvantageClub.ai leverages AI, data mining, and analytics to revolutionize employee engagement. Headquartered in San Francisco, AdvantageClub.ai has an impressive client portfolio featuring Concentrix, Franke, Afni, Security Bank, IGT Solutions, Qiagen, BCG, and many more.
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AdvantageClub.ai raises $4 Million from Axilor Ventures to expand in the US and Asia and add New Product Lines
FOSHAN, China, Dec. 2, 2024 /PRNewswire/ -- On November 15, 2024, China's Ministry of Finance announced changes to the export tax rebate policy, affecting industries including aluminum manufacturing. Syharvest Aluminum, a leader in the aluminum extrusion sector, has announced measures to proactively adapt to these changes.
Eddie Tan, CEO of Syharvest Aluminum, noted, "Policy changes bring challenges, but also opportunities. With digital transformation and expertise in precision manufacturing, Syharvest is poised to deliver high-quality products while contributing to the industry's green transformation."
Starting December 1, 2024, the policy cancels export tax rebates for aluminum products and reduces rebates for specific refined oil, photovoltaic components, and non-metallic minerals from 13% to 9%. In response, Syharvest has implemented a comprehensive strategy.
In the short term, the company has leveraged the 14-day window between the policy announcement and its implementation to prioritize shipments for export clients. By operating around the clock and utilizing digital systems implemented since 2023, Syharvest has significantly increased its production capacity from 50 tons to 130 tons per day.
For long-term adaptation, Syharvest has invested over 30 million RMB in a digital transformation project with Schneider Electric, improving production efficiency and transparency. This includes smart production lines and advanced information management platforms.
The establishment of Syharvest Aluminum's subsidiary, Syharvest CNC Processing in 2023, represents a new phase in the group's development. The subsidiary aims to optimize the products structure by transitioning from construction aluminum profiles to industrial-grade aluminum and precision-finished products. Its portfolio now features aluminum heatsinks, industrial lighting profiles, automation industrial profiles, solar frames profiles, medical device aluminum parts, automotive components, and electronics devices parts. The company provides end-to-end solutions, including custom design, extrusion, and precision processing.
Syharvest prioritizes high-value-added orders and collaborates with clients across Europe, North America, Africa, Australia, and Southeast Asia. The company also plans to participate in international trade fairs to expand its market share.
Committed to sustainability, Syharvest installed a 2 MW rooftop photovoltaic system in 2022, reducing CO2 emissions by 2,200 tons.
Syharvest Aluminum is confident that its strategic initiatives will mitigate the impact of the policy changes and drive growth and innovation.
About Syharvest Aluminum
Syharvest Aluminum specializes in custom aluminum alloy production and sales, serving industries such as construction, electronics, and automotive. Known for cutting-edge technology and high-quality solutions, Syharvest is a trusted industry partner.
For more information, visit: www.syharvest.com.
Contact: info@syharvest.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Syharvest Aluminum Adapts to New Export Tax Rebate Policies with Strategic Innovations and Green Initiatives
