GigIndia receives fresh funding, closes pre-series A at Rs 7.6 crore

The B2B gig marketplace was launched in 2017

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GigIndia, the B2B gig marketplace has managed to raise Rs 7.6 crore in a pre-series A funding. It received fresh investments from angel investors Anjali Bansal and Vineet Patni.

When the three-year old startup had announced the pre-series A funding in July, it had raised about Rs 7.3 crore in a round led by Incubate Fund India. Other angel investors who have invested in the same are S Ramadorai, ex-CEO, TCS and Kiran Deshpande, former CEO, Tech Mahindra.

Sahil Sharma, co-founder & CEO, GigIndia, revealed the Company’s plan to “rapidly scale the business in the country, while continuing to invest in talent and technology.”

The newly acquired funds will be used to enhance the Company’s technology platform to help create a larger community of gig workers.

While the Company had suffered about 80 per cent loss in business due to the lockdown in March, its revenue was in closed November was the highest till date. Apparently, the number of gig workers from tier 2/3/4 cities is going up rapidly —from 5.22 per cent in March 2020 to 58.11 per cent in September 2020.

There has been a growth of four times in women gig workers in October 2020 as compared to April 2020.

Launched by Sahil Sharma and Aditya Shirole, Gig India helps companies save on the overhead costs of hiring, training and managing workforce. Its technology-driven processes ensure automated end-to-end management to drive desired business outcomes for organisations.