Bengaluru-based Awign, a startup that operates a tech-enabled on-demand work fulfillment platform, has raised $15 million in a Series B funding round co-led by Bertelsmann India Investments and Amicus Capital Partners.
The round also saw participation from Mynavi Corporation and existing investors – Unitus Ventures, and the Michael & Susan Dell Foundation (MSDF).
Annanya Sarthak, Gurpreet Singh, and Praveen Sah co-founded Awign in 2016. Prior to the current round, the startup had raised $7.3 million in funding from VCs such as Michael & Susan Dell Foundation, Unitus Ventures, Lumis Partners, and Work10M, among others.
Over the last two years, The startup claims to have witnessed 10x growth in revenues with the completion of 65 million+ tasks, a rising gig workforce of over one million partners, and a rapid expansion in new revenue streams.
“At Awign, we believe that any complex work across all skill levels can be configured and gigified into simpler tasks,” said Annanya Sarthak. “We’re leading the gig work transformation in India through our proprietary no-code tech stack, which enables end-to-end work execution along with managing our gig partners’ entire lifecycle,” Sarthak said.
According to the statement, Awign plans to use the raised capital to enhance its technological capabilities, expand digital services into global markets, and bolster supply and demand acquisitions.
While the enterprise-focused gig platform will continue to penetrate further into its domestic market, it will also leverage India’s large pool of gig workers to solve problems for organizations across the globe. In addition, the startup looks to hire talent across technology, product, enterprise sales, and marketing.
It has partnered with several big corporations, including Amazon, Dunzo, OYO, Paytm, Bigbasket, Ola, ITC, Airtel, CRED, Britania, Unacademy, Quikr, Pidilite, and Accenture.
“The new funding will enable us to strengthen our processes, and expand our demand and supply pool in both domestic and international geographies. This will, in turn, enable millions of gig partners to find employment opportunities and earn the sustainability of their livelihood,” said Gurpreet Singh.
With rising demand for the gig economy across all skill levels, Awign launched ‘Awign Expert’ in 2021 to help enterprises hire high-skill talent on a contractual basis and manage the entire lifecycle of those professionals.
The platform aims to increase its gig partner network to add 500,000+ annually active gig partners to achieve 300,000,000+ tasks in the next five years.
“We’re leading the gig work transformation in India through our proprietary no-code tech stack which enables end-to-end execution of work along with management of our gig partners’ entire lifecycle,” said Praveen Shah.
Source @Indianstartupnews
