Total amount raised
$19.8 Million
Latest funding date
01/01/2023
Location
WorkIndia has successfully raised funding over 7 rounds, with the latest being a Series B. The platform is backed by 11 investors, including Aavishkaar Capital and BEENEXT.
Keep reading to explore the intricacies of WorkIndia's fundraising journey and the investors backing this innovative platform.
What Is WorkIndia?
WorkIndia is a prominent blue-collar recruitment portal based in Bengaluru, Karnataka, India. The company operates in the Employment, Human Resources, and Recruiting industries, providing a platform for job seekers to find employment opportunities.
Founded with the mission to simplify the hiring process, WorkIndia has grown to employ between 501 and 1000 people. The platform boasts a large database of qualified candidates and facilitates quick hiring, often within 2 days, across 750+ cities in India.
How Much Funding Has WorkIndia Raised?
- Angel Round
- Amount Raised: USD 500,000
- Date: October 2015
- Lead Investors: Satyen V Kothari
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial technology.
- Series Unknown
- Amount Raised: INR 420,000,000
- Date: February 2020
- Lead Investors: Xiaomi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance technological capabilities.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: April 2022
- Lead Investors: Persol Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market presence.
- Debt Financing
- Amount Raised: INR 110,000,000
- Date: April 2022
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Series B
- Amount Raised: INR 980,000,000
- Date: January 2023
- Lead Investors: Insitor Partners, SBI Investment, Yamauchi-No.10 Family Office
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen product and data science capabilities and expand into the Southeast Asian market.
- Series B
- Amount Raised: INR 970,000,000
- Date: December 2025
- Lead Investors: Aavishkaar Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technological infrastructure.
Total Amount Raised: USD 36,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Aavishkaar Capital
- Details: Aavishkaar Capital is a leading impact investment firm based in India. They focus on early to growth-stage enterprises that create social and environmental impact.
- Investment Focus Areas: Agriculture, financial inclusion, healthcare, and education.
- Notable Investments: AgroStar, Chqbook, Nepra.
- SBI Holdings
- Details: SBI Holdings is a financial services company headquartered in Tokyo, Japan. They operate through various subsidiaries, focusing on a wide range of financial services.
- Investment Focus Areas: Financial services, technology, innovation.
- Notable Investments: Ripple, R3, various fintech startups.
- Yamauchi No.10 Family Office
- Details: This is the family office of the founding family of Nintendo. They manage the family's investments and philanthropic activities.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Various undisclosed investments in technology and innovation sectors.
- Persol
- Details: Persol is an eyewear company known for its high-quality and stylish glasses. They have a significant presence in the eyewear market.
- Investment Focus Areas: Eyewear, related technologies.
- Notable Investments: Primarily in the eyewear industry.
- Insitor
- Details: Insitor is an investment firm that focuses on social impact investments. They aim to support companies that drive positive social change.
- Investment Focus Areas: Social impact investments, emerging markets.
- Notable Investments: Various social enterprises and impact-driven companies.
What's Next for WorkIndia?
WorkIndia is poised to capitalize on significant opportunities, particularly in the Southeast Asian blue-collar job market. With a recent $12 million pre-Series B funding round, the company aims to enhance its product and data science capabilities, leveraging technology to digitize and secure the employment process. This expansion into new markets represents a substantial growth opportunity, given the platform's existing reach across 772 cities in India and its success in empowering over 29 million job seekers.
Future fundraising appears promising as WorkIndia continues to innovate and expand. The competitive landscape, featuring established job portals like Naukri.com and LinkedIn, underscores the need for continuous technological advancements. The company's focus on AI-based job matching and fraud detection systems positions it well for attracting further investment to support its growth and market entry strategies.
However, challenges remain. Navigating the complexities of new international markets and maintaining the effectiveness of their fraud detection system are critical. Additionally, intense competition from other job portals and adapting to the specific needs of Southeast Asian countries will require strategic planning and execution. Despite these hurdles, WorkIndia's robust business model and technological focus suggest a bright future ahead.
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