Snaphunt resolved on July 30 to wind up operations, according to a recent Government Gazette notice. The company is exploring options for its remaining technology and assets, including a potential sale, in the hope that its AI recruitment system can be acquired and further developed.
The winding-up followed a July 6 declaration by the directors that Snaphunt could no longer continue operating because of its liabilities. The company was placed in provisional liquidation the following day.
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Snaphunt logo. Photo courtesy of Snaphunt |
In response to queries, chief executive Tulika Tripathi said: “We had secured investor commitments, but the funding was delayed beyond the point where the business could be sustained.”
She said the decision to wind up was made only after it became clear that the capital would not arrive in time to support ongoing operations, according to The Straits Times.
Founded in 2017, the Singapore-based AI-driven recruitment platform was designed to help employers source, screen and hire candidates across markets. Its system automated functions such as candidate matching, video interviews, applicant screening and reference checks.
Snaphunt raised $1 million in seed funding from venture capital firm Beenext in 2019 to support its expansion, according to Digital News Asia.
It served more than 15,000 employers and had more than eight million registered professionals, connecting talent with job opportunities across more than 140 countries.
When operations ceased in early July, Snaphunt had three employees in Singapore, including Tripathi.
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