Sunday, July 14, 2024
HomeStart UpAwign bags $15mn in funding co-led by Bertelsmann India, Amicus Capital

Awign bags $15mn in funding co-led by Bertelsmann India, Amicus Capital

Gig work platform Awign has raised USD 15 million (about Rs 120 crore) in a funding round co-led by Bertelsmann India Investments and Amicus Capital Partners, the company said on Thursday. The Michael & Susan Dell Foundation (MSDF), Unitus Ventures, and Mynavi Corporation, all existing investors, also participated in the round.

According to a company statement, Awign aims to use the funds raised to expand supply and demand acquisitions, expand digital services into global markets, and improve technological capabilities.

In addition to expanding its domestic market share, the enterprise-focused gig platform plans to take advantage of India’s sizable gig workforce to provide solutions to businesses worldwide.

To complete more than 300 million jobs by2025, Awign plans to add over 500,000 active gig partners annually.

With a stellar clientele that includes companies like Infosys, Mahindra & Mahindra, Tata Group, Swiggy, Byju’s, Britannia, etc., the company has gained trust in the enterprise-focused gig ecosystem.

“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. While the average payouts for our gig partners have grown 2 fold in the last 24 months, the new funds will help us enable a larger pool of gig partners to find employment opportunities and earn their livelihoods in a sustainable way,” Awign Co-founder and CRO Gurpreet Singh said in the statement. 

Bertelsmann India Investments, managing director Pankaj Makkar said that India’s gig economy is worth USD 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 over 1 million gig workers,” Makkar said.

Subscribe To Newsletter


BRL Editor
BRL Editor
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.