[Funding alert] Hyperlocal job discovery startup Jobsgaar raises $140K from SucSEED Indovation Fund, others
Jobsgaar Technologies, a New Delhi-based hyperlocal job finding platform, has secured $140,000 in seed funding from Hyderabad headquartered SucSEED Indovation Fund, and other angels.
The group of angel investors who participated in the round include Rohit Chanana, Jasminder Singh Gulati, Poonam Kaul, Sunil Kamath, Mandeep Singh, and Gunjan Paharia.
This funding will help the startup establish the proof of its concept and fund its product development and growth plan.
Atul Pratap Singh, Founder and CEO, Jobsgaar, said, “We either see masses trooping in large cities in search of work opportunities or likely staying back at their place of origin doing odd jobs forever, driven by necessities. On the other hand, there is a section of employers, small scale businesses, enterprises, MSMEs, and millions of other unorganised pursuits who are struggling every day to find a local workforce for their job responsibilities."
"All these people rely either upon word of mouth, referrals or verbal commitment or classified ads. Jobsgaar is an endeavour to digitally enable this community of people to connect and minimise the void between a local employer and a primary job hunter.”
Atul Pratap Singh, Founder and CEO, Jobsgaar
Started in May 2020 by Atul Pratap Singh, Jobsgaar addresses job loss impact and helps employers connect with the workforce at their native place.
The startup claims to have been focussing on around 15 districts from UP and Bihar to explore the potential.
“From these towns, we've been able to onboard over 10,100 job seekers and 170+ employers with over 6,500 connections/conversations in between employers and job seekers. What is enticing for us is that over 65 percent of these job seekers are graduates and 14 percent have a post-graduate or equivalent degree. The candidates with a qualification of up to 10+2 stand currently at around 21 percent. The average age of the job seekers is 27 years,” Atul added.
Atul further added that with the core focus on technology, Jobsgaar would like to bridge the gap between local workers who move away from their hometowns to earn a livelihood and employers who need to hire a workforce without any delay, with a simple solution. “This seed fund will help us accomplish this vision.”
According to Boston Consulting Group, there are 90 million jobs in India’s non-farm economy and 65 percent of the graduate workforce is always looking for a job. BCG estimates that the gig economy has the potential to service up to 90 million jobs in India’s non-farm economy alone, transact over $250 billion in the volume of work, and contribute an incremental 1.25 percent (approximately) to India's GDP over the long term.
Dhiraj Kumar Sinha, Co-founder and Partner, SucSEED Indovation Fund, said:
“Talent recruitment is a big challenge in Tier II-IV cities and towns. We believe easy to adopt Jobsgaar’s technology can lead to re-kindling of localised economies and increase employment by enabling micro entrepreneurs to scout talent effortlessly. This would further ensure that Tier I cities are not overcrowded, and job opportunities are made available closer to home,” said