Darwinbox completes Rs 86 crore ESOP buyback, offering liquidity to over 350 employees across its global offices.
This comes a day after the firm announced raising $140 million in a funding round.
The company plans to use the fresh capital to support technology development and international expansion efforts.
The funding round, which is likely to value the company at around $950 million, will comprise a combination of primary and secondary fundraise, Mint reported.
Though Darwinbox's Ebitda margin has improved by 17 percentage points in FY24, the HRTech SaaS firm is yet to turn net profitable.
Singh spent the early years of his career as an engineer building products in both consumer and SaaS tech prior to joining Darwinbox.