[Funding alert] Awign Enterprises raises $4M in Series A round from Michael and Susan Dell Foundation, others
Bengaluru-based work fulfilment platform Awign Enterprises on Thursday said it had raised $4 million in a Series A funding round led by Work10M, Michael and Susan Dell Foundation, Eagle10, and existing investors, Unitus Ventures.
The company plans to utilise this investment to strengthen its workforce-facing app and enterprise-facing platform, while also developing robust sales and marketing channels.
With this new round, Awign plans to grow 10 times within the next financial year, and make some strategic acquisitions.
Founded in 2016 by IIT-alumni Annanya Sarthak, Gurpreet Singh, and Praveen Sah, Awign is a platform that takes up ground work from enterprises across segments of auditing, diligence and new business development, and gets it fulfilled through its network of gig workers.
Technology allows them to get tangible outcomes on the ground and bill their customers only for the outcomes, not the man hours.
Speaking on the fund raise, Gurpreet Singh, Co-founder, Awign, said,
“Majority of businesses in India, whether traditional or new age, continue to be offline driven, requiring high touch human intervention at most stages of the value chain. Our strong technology-enabled platform with a unique offering of delivering 'work' and not 'workforce' has helped us build expertise and win the favour of marquee customers across FMCG, CPG, Retail, BFSI, Telecom, Ecommerce and Mobility sectors.”
Over half a million gig workers across India are associated with the startup. They come on the platform, get relevant tasks, are selected, get trained, complete the tasks, make money, and improve their skills.
Rahil Rangwala, Director, Programmes, Michael and Susan Dell Foundation, shared,
“Supporting India’s youth with meaningful livelihood opportunities and work-readiness skills is core to the Dell Foundation’s mission in India. Awign’s innovative model provides measurable value to large companies and simultaneously impacts a distributed workforce at scale. We’re excited to be part of Awign’s journey in re-defining the future of work in India.”
Awign claims that it has fulfilled more than three million micro-jobs across 200 cities in India.
Shelly Singh, Founding Partner at Work10m, added,
“Gig economy is how the workforce will be shaped in times to come and will create disproportionate opportunities for enterprises. Work10m is very excited to back Awign’s unique business model and top quality management team focused on innovative solutions to address this space.”
Awign boasts of a clientele including the likes of Swiggy, OYO, Accenture, BCG, Raymond, Wipro, and Udaan.
(Edited by Teja Lele Desai)