The manpower outsourcing market is emerging in India as most of the startups are employing interns at a cheaper rate to work in this competitive business environment. In this market, the recent development is that a Bengaluru-based startup Awign has raised Rs.5 crore funding from investor Unitus Seed Fund and other angel investors, says a company statement.
In 2016, the recruiting service provider Awign was founded by Annanya Sarthak, Gurpreet Singh andPraveen Sah. The startup helps firms by converting their work requirements into live projects which will be assigned to students as a virtual internship. The company plans to use the raised funding to expand its services in more cities as well as tap to more firms. It also focuses on increasing the number of students on their platform.
Singh said, We are currently operational in 130 cities in India and manage everything without ever physically visiting any city. We want to completely turn our service into product and influence career paths for a million students. The funds would be instrumental in both scaling our outreach and improving our product.
Last year the company has also raised funding of Rs.9 lakh from various angel investors. The startup competes with the likes of Teamlease.
Unitus Seed Fund is a venture fund based in Bangalore and Seattle. The fund focuses on early-stage technology startups, mostly in the healthcare, education and financial sectors.
Majority of business operations in India continue to be offline-driven, requiring high-intensity human intervention at all stages. Awigns strong technology-enabled platform and a growing network of well-trained college temp workforce have successfully streamlined these operations, minimised turnaround time and completely eliminated setup and operation costs in multiple locations, said Will Poole, co-founder and managing partner of Unitus Seed Fund.