In a move that underscores its commitment to rewarding long-term contributors, HR tech unicorn Darwinbox has completed its third ESOP buyback in four years—this time worth ₹86 crore ($10 million).
The latest buyback benefited over 350 employees across 11 global offices, including India, Southeast Asia, the Middle East, and North America.
“This isn’t just a financial milestone; it’s a reflection of our belief in building together, growing together, and winning together,” said a spokesperson from Darwinbox.
The Hyderabad-headquartered firm has become a benchmark for employee-first growth in India’s startup landscape. Earlier this year, it raised $140 million in a round led by Partners Group and KKR, pushing its total capital raised to $255 million.
Founded in 2015, Darwinbox has scaled operations across Indonesia, Singapore, the Philippines, Malaysia, Vietnam, Thailand, UAE, Saudi Arabia, and the US. With over 4 million users and 1,000+ enterprise clients, it is one of the fastest-growing SaaS companies from Asia.
The company recently rolled out a new AI-powered HR suite designed to assist HR leaders with recruitment, digital transformation, and employee experience—cementing its place at the intersection of HR and intelligent automation.
In FY24, Darwinbox clocked ₹392.95 crore in revenue and a net loss of ₹191.82 crore, as per filings sourced from TheKredible.
This move comes at a time when ESOP buybacks and liquidity programs are gaining momentum in India. In 2025 alone, startups such as Rapido, Univest, Deserve, and Even Healthcare have executed buybacks worth a collective $17 million.
Market regulator SEBI’s recent easing of IPO norms—allowing founders to retain and exercise ESOPs granted at least a year before DRHP filing—also signals a more founder- and employee-friendly era in the Indian public market landscape.
