On-demand staffing platform Gigforce raises $3 million from Endiya Partners, angels
The firm provides full-stack staffing solutions, and charges clients a percentage of gig payouts.
Gigforce cofounder and CEO Chirag Mittal said the fundraise will help strengthen the team and technology and rapidly scale pan-India in the next few quarters. “The market is underserved today because of the lack of suitable technology to manage scale. India’s top five staffing companies together just about manage a workforce of one million. This is set to change with strong tailwinds, including the proliferation of inexpensive smartphones, ubiquitous Internet access for blue and grey collar workers, maturing technology platforms, simplification of labour codes, and the huge growth trajectory India will witness in the next ten years.”
Within a short span of 12 months, Gigforce has achieved an annual run-rate of Rs 25 crore, the company said in a press release.
Gigforce is clearly emerging as a category leader in tech-driven staffing for gig workers, said Endiya Partners director Abhishek Srivastava. “With a potential to service up to 90 million jobs in India and contribute an incremental 1.25% to India’s GDP over 8 to 10 years, there exists a huge opportunity waiting to be tapped.”
Unitus Ventures senior partner Surya Mantha said the speed at which Gigforce has catered to the rapid and diverse demand created during the pandemic shows its future-ready approach and scalability.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a economictimes.indiatimes.com feed.)
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