[Funding alert] TaaS startup KIWI raises $2,50,000 in seed round from PointOne Capital, Core91 VC, others
KIWI — Delhi-based global TaaS platform — on Friday said it has raised $2,50,000 in seed funding from PointOne Capital, Core91 VC, AppyHigh, and other angel investors.
According to a statement, the fresh funds will be used for product development and for creating an initial base of consumers and experts.
Incepted in 2020 by a technopreneur Imran Ladiwala and serial entrepreneur Mishu Ahluwalia, KIWI is a one-of-a-kind TaaS platform that connects freelancers and clients within 180 seconds and creates a high-skilled on-demand talent network in the world.
Speaking about the platform, Imran Ladiwala, CEO and Co-founder of KIWI, said,
“The startup assists people in getting their issues resolved in real-time, and freelancers get their money within 60 minutes. The gig economy is growing at a massive pace and COVID-19 has propelled that growth."
More and more freelancers are moving to freelance platforms. The challenge freelancers face is in sending proposals and participating in bidding wars to win clients while clients are bombarded with unclear sales pitches and ambiguous quotes.
"With KIWI, clients hire a freelancer who is an expert in solving their exact issue, instantaneously. Lastly, freelancers would spend more time servicing skills than preparing sales pitches or proposals,” Imran added.
According to the startup, KIWI is operating on an early revenue stage. However, it is planning to target a monthly revenue of $2 million+ by the end of 2023, with annual revenue of $100 million in the next five years.
Commenting on the recent fundraise, Mihir Jha, Managing Partner of PointOne Capital, said, "Kiwi's talent-as-a-service platform, which provides the easiest way for anyone to get micro and nano issues resolved instantly, online, and in real-time, serves a largely untapped global need.”
Shalin Shah of Core91 VC also commented, “They are fascinated with platforms like KIWI that can empower millions to make a living in previously unavailable ways. Having an expert available on-demand to solve a task just when you're googling the ‘how-to,’ completely changes the game.”