Hiring platform Vahan.ai secures investment from Persol Group
The company will use the newly-raised funds to scale its operations and focus on hiring needs of emerging sectors in India.
AI-powered hiring platform Vahan.ai on Friday secured an undisclosed investment from Asia-Pacific region based HR services provider Persol Group.
The company will use the newly-raised funds to scale its operations, focus on employment needs in emerging sectors like manufacturing and retail, and spruce up its AI technology.
The investment comes months after Vahan raised $10 million in a Series B round led by Khosla Ventures and participation from Y Combinator, American VC firm Gaingels, and Paytm's Vijay Shekhar Sharma.
Persol Group is expected to expand its footprint in India with this investment as Indian rising gig economy poses new opportunities and hiring demands. According to Vahan, gig hiring in the quick commerce sector is expected to grow 60% this year, fuelled by dark stores expansion, infusion of capital, and penetration into Tier II and III towns.
“India’s gig economy is on the cusp of a remarkable transformation, with smaller cities and emerging sectors driving a surge in demand for gig workers. Quick commerce alone is expected to double its workforce needs in these regions, creating opportunities for millions of individuals to access jobs and improve their livelihoods. By combining our AI-driven solutions with Persol’s deep expertise in workforce management, we aim to scale our technology, expand into new sectors, and create a more inclusive and efficient employment ecosystem,” said Madhav Krishna, CEO and Founder, Vahan.ai.
Founded in 2016, the company is one of India’s primary recruitment platform for the quick commerce industry. It has facilitated 2.6 lakh job placements across 920 cities for companies like foodtech majors Zomato and Swiggy along with ecommerce platforms Flipkart and Amazon and quick commerce players Zepto and Blinkit.
“We are thrilled to collaborate with Vahan.ai, whose innovative technology and advanced business operations, driven by deep market insights, align perfectly with our broader strategy in India. Vahan’s Master Agency Platform is designed to revolutionize talent acquisition and workforce management by leveraging AI-driven solutions. Through this partnership, the PERSOL Group will support the expansion of Vahan’s reach, helping businesses in India access skilled talent more efficiently,” said Shingo Ishida, Partner and Head of APAC Investment at Persol Group.
Edited by Megha Reddy