Blue-collar recruitment platform WorkIndia has raised $7 million (Rs 42 crore) from Chinese tech major Xiaomi.
Previous investors of WorkIndia who have done multiple investment rounds in the company include Beenext Pte ltd and a Japanese hedge fund Asuka Investments among others, the company said.
In less than five years, the company has moved from being a technology startup to an unprecedented 2.1 crore unique app sessions per month, 1.5 crores registered job seekers and presence in 763 cities across India, it added.
“The cutting edge technology developed by WorkIndia, utilising geo-positioning and dynamic algorithms, is one of the best in class that we have seen.
The company has created a massive dent in the Indian blue-collar segment within a short span of time. It is inspiring to see WorkIndia leverage the high smartphone penetration in India and provide an opportunity to people from all segments, working as an equalizer,” Xiaomi Global Vice President and Xiaomi India MD Manu Jain said.
Keshav Sanghi, former managing director and head of India Equities, Goldman Sachs and an angel investor, said that while the white-collar segment’s behaviour is well documented, the blue-collar segment behaves very differently and very little data is available on this segment.
“This fact coupled with WorkIndia’s unique insights on the blue-collar segment and the massiveness of WorkIndia’s impact, make it a highly exciting time to be part of what the team is building today,” he added.
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