Tech-led platform Awign fetches $15 million in Series B funding round

25 Aug 2022 , 03:29 PM

Awign, a tech-enabled on-demand work fulfillment platform, is said to have raised $15 million in a Series B funding round. This round was co-led by Bertelsmann India Investments and Amicus Capital Partners, along with Mynavi Corporation and existing investors - Unitus Ventures, and the Michael & Susan Dell Foundation (MSDF).

The company will utilise the raised funds to enhance technological capabilities, expansion of digital services into global markets, and bolster supply and demand acquisitions.

While the enterprise-focused gig platform intends to expand its domestic market, it will also use India's large pool of gig workers to resolve issues for organisations around the world.

Over the previous two years, the platform has seen a 10x increase in income thanks to the completion of 65 million+ jobs, a growing gig workforce of 1 million+ partners, and a quick expansion in new revenue sources.

According to Gurpreet Singh, CRO, and co-founder of Awign, the additional funding will help a bigger pool of gig partners discover work possibilities and make a sustainable living.

Michael & Susan Dell Foundation, Unitus Ventures, Lumis Partners, Work10M, Eagle10 Ventures, Blacksoil, and Stride Ventures have already invested $7.3 million in the firm’s previous funding round.

It is searching for mid-management and senior-level candidates for its technology, product, enterprise sales, and marketing departments. It has an Rs150 crore ARR.

With an increased demand for the gig economy across all skill levels, Awign introduced 'Awign Expert' in 2021 to assist organisations in hiring high-skill people on a contractual basis and managing those experts' complete lifecycle.

Since its inception last year, it has demonstrated a consistent growth and performance trajectory, with 36% m-o-m growth.

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