Vahan, a Bengaluru-based jobs & livelihood platform for blue-collar employees, has raised $8 million in its Series A spherical of funding led by Silicon Valley investor Khosla Ventures.
The spherical additionally noticed participation from Airtel, SHAKTI VC (led by former Google exec Keval Desai with Eric Schmidt and Michael Dell as LPs), Pioneer Fund (Y Combinator alumni fund), Spike Ventures (Stanford University alumni fund), Vijay Shekhar Sharma (CEO, Paytm), Guru Gowrappan (Group CEO, Verizon Media, and former Global MD, Alibaba), Kevin Shannon (former CFO, Harvard Management Company) and others.
The recent funds will permit Vahan to additional scale its recruitment enterprise and construct new product choices for its fast-growing buyer base which includes main gig-economy firms and blue-collar employees.
Vahan is a technology-driven platform that helps blue-collar employees discover jobs whereas serving to employers discover the appropriate candidate on the proper worth, on the proper place, and on the proper time. The startup has constructed instruments, together with an AI-driven bot on WhatsApp, which are used to recruit employees at a big scale and at excessive velocity and in flip save blue-collar employees from exploitation by the hands of middlemen.
Commenting on the fundraise, Madhav Krishna, Founder & CEO of Vahan, stated,
“We are excited to deepen our partnership with Khosla Ventures. Their decision to double down on our business further validates the multi-billion dollar opportunity we have in front of us. We will continue to leverage our deep expertise in building large businesses using technology to take the company to the next orbit of growth. Our goal is to ensure that previously underserved blue-collar workers get access to opportunities across jobs, financial services, and upskilling, and our ambition is to make 1 billion placements over the next 10 years.”
From beginning off as a recruitment-only enterprise, Vahan has now constructed capabilities round end-to-end workforce administration or staffing, thereby offering a complete resolution to employers. Through their machine learning-based know-how, Vahan is ready to scale back employee attrition — an issue that plagues most employers that rent blue-collar employees — and enhance general employee productiveness.
On their continued funding in Vahan, Vinod Khosla, Founder of Khosla Ventures, stated,
“We are excited to continue backing the strong, mission-driven team at Vahan. The blue-collar worker recruitment opportunity in India is large and growing, and Vahan’s ability to leverage technology in building value for both workers and employers at scale is exciting. Vahan is well-positioned to win this opportunity in India and beyond.”
India has over 250 million blue-collar employees. Now, with robust tailwinds coming off the pandemic, the very best demand for the blue-collar workforce is anticipated from the logistics and e-commerce sectors as constructing environment friendly supply channels is essential for web companies. Employers in this phase rent blue-collar employees beneath a flexi-work or “gig” mannequin. According to a report by ASSOCHAM, India’s gig sector is anticipated to develop to USD 455 billion at a CAGR of 17% by 2024 and has the potential to develop a minimum of 2X as in comparison with pre-pandemic estimates.
Vahan has been beforehand backed by marquee names resembling Y Combinator, Khosla Ventures, Founders Fund, Airtel, and lots of former and present Google and Flipkart executives. Its shoppers embody Zomato, Flipkart, Uber, Swiggy, Rapido, Grofer’s, Dunzo, and Shadowfax. Vahan presently locations 7000+ blue-collar employees throughout 200 cities each month in gig-economy jobs and is on observe to develop into India’s largest blue-collar recruitment platform in the following yr. In the long term, the corporate goals to allow higher livelihoods for the following billion web customers.
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