This Work Fulfillment Start-Up Raised $4 Mln, Plans Aggressive Expansion
The new funds will be used to further enhance the company's workforce facing app and the enterprise facing platform, while also developing its sales and marketing channels, Bengaluru-based Awign said in a statement.
Work fulfilment services provider, Awign Enterprises, has raised $4 million in series A funding, the company said on Thursday.
Work10M, Michael and Susan Dell Foundation, Eagle10 and existing investor Unitus Ventures participated in the round.
The new funds will be used to further enhance the company’s workforce facing app and the enterprise facing platform, while also developing its sales and marketing channels, Bengaluru-based Awign said in a statement.
Leveraging the Gig Workforce
Awign makes use of the gig workforce to complete various tasks that businesses ask for.
The company essentially puts these tasks up as virtual internships and outsources them to their student network. This network is made of college students the company trains through its online do-it-yourself platform.
What helps Awign’s case is it bills customers for the tangible outcomes expected off a task and not for the man-hours.
“Gig economy is how the workforce will be shaped in times to come and will create disproportionate opportunities for enterprises,” said Shelly Singh, managing partner at Work10M.
Majority of Indian businesses continue to be offline driven, and require human intervention at most parts of the value chain and that’s where Awign comes in, according to co-founder Gurpreet Singh.
“Our strong technology-enabled platform with a unique offering of delivering 'work' and not 'workforce' has helped us build expertise and win the favour of marquee customers,” Singh said.
Aggressive Expansion Plans
Founded in 2016, the company has fulfilled more than 3 million micro jobs across 200 cities in India.
With the fundraise, Awign said it plans to grow 10 times in fiscal 2020 and make some strategic acquisitions.
Awign’s clientele includes the likes of Swiggy, OYO and Wipro.