[Funding alert] Online job recruiting startup MyKaam raises investment from Venture Catalysts, others
, an online job searching and recruiting platform for blue-collar workers, has raised an undisclosed amount from Venture Catalysts, one of India's foremost incubator for startups.
The investment round was led by Dr Apoorva Ranjan Sharma, Co-founder, Venture Catalysts; Mrunal Jhaveri of Icebreaker Tech LLP; Nirav Panchmatia of AUM Financial Advisors Blogger; Vikas Kapoor of RIVOLI Fashions; and Karan Garg, MD, Samhit Ventures.
According to a statement released by the company, MyKaam plans to utilise the funding to strengthen its tech stack, scale-up operations, and bring more businesses on board.
Dr Apoorv Ranjan Sharma, Co-founder and President of Venture Catalysts
Commenting on the funding, Ashish Gupta, Founder of MyKaam, said,
"The 'Jio effect' has ensured easy accessibility to the internet across every demographic. India is using internet-enabled platforms to make significant improvements in their lives. With MyKaam, we want to play an active role in this transformation and keep addressing the employment needs of Indians and blue-collar workers in particular."
Started in 2016, Bengaluru-based MyKaam uses a video-based platform to connect blue-collar workers with local recruiters to help them find next-door jobs. It onboards local businesses which list their jobs in short video formats, making it easier for blue-collar workers to search for jobs as per their preferences and convenience. When the candidates find a suitable job, they can use the MyKaam chat feature to directly reach out to the recruiter. Likewise, recruiters can also connect to potential employees through the platform.
Adding further, Dr Apoorv Ranjan Sharma, President and Co-founder, Venture Catalysts, said,
"Around 100-200 million blue-collar workers, which accounts for over 70-80 percent of the industry, have found themselves without any income source due to the nationwide lockdown imposed in the wake of the coronavirus pandemic. Unlike the white-collar professionals, they do not have access to or the understanding to navigate through sophisticated job searching portals such as LinkedIn. Their job-searching process is still heavily reliant on word-of-mouth. MyKaam has not only recognised this gap, but also introduced an innovative solution that will empower India’s blue-collar workforce by helping them easily secure jobs."