Smartstaff raises $6.2M in Series A funding from Nexus Venture Partners, others
The blue-collar staffing platform said it will use the funding to scale up geographically and grow.
, a blue-collar staffing platform, has raised $6.2 million in Series A funding from , , , and .
The company said it will use the funds to scale up geographically and grow. So far, the startup has raised a total of $10.5 million in funding.
"India is witnessing a manufacturing boom across industries and regions spurring a large demand for trained manpower. India's manufacturing industry is experiencing steady growth, with projections indicating an annual growth rate of 8–10% over the next 5–10 years," said Saijith Pai, Investment Partner, Blume Ventures.
Smartstaff said it has recruited, trained, and employed 11,000 workers across 50 different manufacturers over the past two years. It said it has facilitated three million shifts, resulting in workers collectively earning over Rs 100 crore in wages.
"This investment serves as a testament to the immense value and potential that Smartstaff brings to India's growing manufacturing industry. With the unwavering support of our investors, we are well-positioned to revolutionise and streamline the traditional staffing landscape," Arpit Dave, Co-founder and CEO, Smartstaff, said.
"Over 100 million manufacturing workers in India are now digitally connected via smartphones and their participation in India's public digital stack (Aadhaar, UPI, among others). We are delighted to partner with the Smartstaff team as they revolutionise the way blue-collar workers in India find jobs with fair wages, transparency, and opportunity for growth," said Bala Srinivasa, Managing Director, Arkam Ventures.
Founded in 2021 by Arpit Dave, Viral Chhajer, Gnanesh Chilukuri, and Aravind Reddy, the company offers end-to-end solutions for recruitment, workforce management, and retention, and simplifies the staffing process for mid-sized and large manufacturing enterprises.
Smartstaff enhances workforce productivity and output by leveraging cutting-edge technology and innovative staffing management techniques. The platform offers its workers various benefits, including an instant advance salary, loans, leave bonuses, live chat support, an emergency SOS feature, and a dedicated helpline for the specific needs of female workers.
It claims that manufacturers working with them have seen a 20-30% increase in output per worker and have reduced daily worker absenteeism by 30%.
Some of its client brands are Raymonds, Cotton World, SuperDry, and Marks & Spencer.
Edited by Megha Reddy