GigIndia bags fund worth Rs 7.3 crore in pre series round led by Incubate Fund
GigIndia, the Pune-based tech startup with focus on gig economy jobs, has managed to raise Rs 7.3 crore in pre-Series A funding round led by Japan-headquartered Incubate Fund India with participation from Beyond Next Ventures.
The startup, which had earlier raised two seed rounds of funding, also saw the participation of existing angel investors – former TCS CEO, S Ramadorai; Kiran Deshpande – former CEO of Tech Mahindra; Ravi Nigam, former MD & Co-founder of Tasty Bite Eatables; and Shashank Deshpande, Co-founder of Clarice Technologies.
Besides, other angel investors like Sakshi Gudwani, Senior Program Officer, Gates Foundation and Dr Pratap and Shantanu Deshpande, CEO of Bombay Shaving Company, also participated in the round. Founded in 2017 by Sahil Sharma and Aditya Shirole, GigIndia is a marketplace that provides on-demand work completion for companies through a gig workforce of jobseekers. The startup leverages technologies like machine learning and artificial intelligence for faster turnaround and quality check.
GigIndia is a platform for both freelancing as well as long term jobs. GigIndia’s platform allows for companies to drive results faster without being burdened by issues like recruiting, training and managing the workforce.
Today, in the current environment of COVID-19, remote working has come to the centre stage and the gig model has increasingly taken the precedence for the corporates. GigIndia plans to tap into the opportunity with models like pay-per-result, where corporate will be charged only for successful results, which removes the cost of hiring and overhead of managing the workforce.
“While empowering large enterprises to scale effectively, GigIndia also provides meaningful employment opportunities to job seekers across India through gigs (micro jobs),” said GigIndia Co-founder Aditya Shirole.