Tech startup Awign raises $15 million in Series B funding
Enterprise gig startup Awign has announced that it has raised $15 million in a Series B funding round.
The fundraising was led by Bertelsmann India Investments and Amicus Capital Partners. Mynavi Corporation also invested in the start-up along with the existing investors—Unitus Ventures and the Michael & Susan Dell Foundation (MSDF).
With the latest funding, Awign plans to use the funds to expand its digital team and services, enhance its technological capabilities, and bolster supply and demand acquisitions to meet client needs. The company also plans to leverage India’s large pool of gig workers to solve problems for organisations across the globe.
Hidekazu Ito, Managing Director at Mynavi Solutions India, shared that Awign focuses on helping people who struggle to get a job or pay financial obligations by living in locations with fewer work opportunities through their technology. Therefore, Mynavi has decided to invest in Awign and believes that their sustained growth will have a positive impact on the blue/gig HR space in India.
Pankaj Makkar, Managing Director at Bertelsmann India Investments said, “In an era when India is reimagining the future of work, we see massive opportunity. Today, India’s gig economy is worth $20 billion with almost 8 million gig workers. Awign has pioneered enterprise-focused gig work solutions by addressing complex business requirements through its network of 1 million+ gig workers.”
Awign was founded in 2016 by IIT Ropar alumni Annanya Sarthak, Gurpreet Singh, and Praveen Kumar Sah.
“The new funding will further enable us to strengthen our tech capabilities, and expand our demand and supply pool in both domestic and international geographies," said Gurpreet Singh, CRO and Co-founder, Awign.
Since 2016, Awign has served clients including Infosys, Mahindra & Mahindra, Tata Group, Swiggy, Byju’s, Britannia and upGrad among others.