WorkIndia, a Blue-collar recruitment platform, announced that it has raised Rs42 cr from Chinese tech major Xiaomi. Previous investors of WorkIndia who have done multiple investment rounds in the company include Beenext Pte ltd and a Japanese hedge fund Asuka Investments among others, the company said.
In the company’s journey of less than five years, it has moved from being a technology startup to about 2.1 crore unique app sessions per month, 1.5 crore registered job seekers and presence in 763 cities across India, it added.
Xiaomi Global Vice President and Xiaomi India MD Manu Jain said, “The cutting edge technology developed by WorkIndia, utilising geo-positioning and dynamic algorithms, is one of the best in class that we have seen. The company has created a massive dent in the Indian blue-collar segment within a short span of time. It is inspiring to see WorkIndia leverage the high smartphone penetration in India and provide an opportunity to people from all segments, working as an equalizer.”
According to a media report, Keshav Sanghi, former Managing Director and Head of India Equities, Goldman Sachs and an angel investor, said that while the white-collar segment’s behaviour is well documented, the blue-collar segment behaves very differently and very little data is available on this segment.
“This fact coupled with WorkIndia’s unique insights on the blue-collar segment and the massiveness of WorkIndia’s impact, make it a highly exciting time to be part of what the team is building today,” he added.
Talking about Xiaomi, the company made it into the Fortune Global 500 list for the first time in 2019, becoming the youngest Fortune Global 500 company.
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