HeyoPhone Secures $500K In An Angel Round

HeyoPhone, a Noida-based social networking app for the SMB community has secured $500K in angel round funding led by Akash Chaudhry (Co-founder of Aakash Educational Services), in participation with Amit Chaudhary (Co-founder of LensKart) and Dinesh Gupta (Co-founder of Busy Accounting).

Founded by Ankit Jain and Pratik Jain in early 2023, HeyoPhone is a social networking app for the small and medium enterprises community. The app allows business owners to seamlessly manage all their communication requirements, including calls and WhatsApp interactions through a single platform.

Speaking about the investment in HeyPhone, Aakash Chaudhry, Co-founder of Aakash Educational Services, said, “India’s retail is set to get a strong digital boost with ONDC which allows every small retail to reach consumers directly. It is the right time to invest in the HeyoPhone app which digitizes customer engagement for all these businesses. Ankit has successfully built MyOperator, understands the SMB space and this is the right team to build something so simple and powerful for India’s 6 crore+ small businesses.”

Commenting about the investment, Amit Chaudhary, Co-founder at Lenskart said, “HeyoPhone gives a direct digital line to every small business and helps the business owner control customer data, engagement, and campaigns. While keeping the tech as simple as simply replacing your regular number with a smartphone number, it will be a game changer for India’s SMBs and I am happy to back it.”

Further talking about funding, Ankit Jain, Co-founder & CEO of MyOperator and HeyoPhone, said, “The untapped potential within the business communication market is substantial, and it is poised for rapid expansion through the integration of conversational AI. Historically, communication has been an integral component of commerce. However, with the emergence of conversational-first interfaces, communication is now positioned to actively drive commerce.”

“We envision ourselves contributing significantly—potentially surpassing 5% of SMB GDP in the coming years. The prevailing market dynamics are favorably aligned, and the confidence demonstrated by our investors in our leverage is remarkable. This infusion of funds will play a pivotal role in propelling our trajectory toward our visionary goals,” Jain added.