SUMMARY
Mynavi Corporation and existing investors - Unitus Ventures and Michael & Susan Dell Foundation (MSDF) also participated in the round
Awign plans to deploy the raised funds in developing technological capabilities, expanding digital offerings and bolstering supply and demand acquisitions
Awign claims to have a wide network of over 1 Mn gig workers and over 100 clients that are basically enterprises employing gig workers
Gig worker platform Awign has raised $15 Mn in its Series B funding round co-led by Bertelsmann India Investments and Amicus Capital Partners.
Mynavi Corporation and existing investors – Unitus Ventures and Michael & Susan Dell Foundation (MSDF) also participated in the round.
Awign plans to deploy the raised funds in developing technological capabilities, expanding digital offerings, and bolstering supply and demand acquisitions.
“Today, India’s gig economy is worth $20 Bn with almost 8 Mn gig workers. Awign has pioneered enterprise-focused gig work solutions by addressing business requirements via its network of 1 Mn+ gig workers. We are excited to partner with Sarthak, Gurpreet & Praveen, creating success stories for enterprises with their unparalleled understanding of the market,” said Pankaj Makkar, managing director at Bertelsmann India Investments.
Founded in 2016 by IIT Ropar alumni Annanya Sarthak, Gurpreet Singh, and Praveen Kumar Sah, Awign is an on-demand work fulfillment platform. It helps businesses manage their operations including last-mile delivery, business development and auditing, among others through gig workers.
Awign presently offers services across diverse industries such as the assessment industry, media and entertainment, AI/ML data operations, automotive, electrical, construction and FMCD, among others.
In 2021, Awign rolled out a programme called Awign Expert to help businesses employ skilled talent on a contract basis. The startup stated that Awign Expert has grown around 36% MoM since its inception.
Awign claims to have a wide network of over 1 Mn gig workers and over 100 clients that are basically enterprises requiring gig workers.
In addition, Awign asserts to have a presence in over 500 cities and over 12,000 pin codes in India. In the next five years, it aims to add over 500K gig workers to its network annually.
Its cap table includes Michael & Susan Dell Foundation, Unitus Ventures, Lumis Partners, Work10M, Eagle10 Ventures, Blacksoil, and Stride Ventures.
In the gig economy, it competes with the likes of grey collar workers-focussed recruitment platform VOIZ and grey and blue collar workers-focussed recruitment startup Apna.
In 2020-21, 7.7 Mn workers were employed in the Indian gig economy. According to a report, the country’s gig economy is expected to have 23.5 Mn workers by 2029-30.
