Xiaomi invests Rs 42 Crores in WorkIndia

WorkIndia, India’s largest blue collar recruitment platform has raised INR 42 crores from Xiaomi. Previous investors of WorkIndia who have done multiple investment rounds in the company include marquee VC investors such as Beenext Pte ltd, an active global investor with investments in multiple countries globally;  Mr. Taniya, Chairman, Asuka Investments, a top hedge fund in Japan and now Xiaomi, a leading global technology conglomerate.

In less than five years, the company has moved from being a technology startup to India’s largest blue collar recruitment player with an unprecedented 2.1 crore unique app sessions per month, 1.5 crore registered job seekers and presence in 763 cities across India.

WorkIndia’s significant rise in India has been catapulted by the surprisingly rapid adoption of online platforms by the blue collar workers for their job search process. With 125 million user events captured every month and dynamic algorithms already in place, WorkIndia is one of the few Indian startups that is truly ready for Artificial Intelligence capability.

Sharing their objective behind this funding, Manu Jain, Global Vice President, Xiaomi and Managing Director, Xiaomi India remarked, “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. At Xiaomi, we thrive towards providing innovation for everyone and we see significant future potential in WorkIndia.”

According to Mr. Keshav Sanghi, former Managing Director & Head of India Equities, Goldman Sachs & Angel Investor, “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.”

Kunal Patil & Nilesh Dungarwal, Co-founders at WorkIndia, commented, “Investment in young talent within the company is WorkIndia’s key focus. We follow a three-pronged philosophy for our talent grooming – Learn, Earn and Have Fun. There is an extraordinary level of focus on working with amazing team members and learning from them while having fun.”

“Team WorkIndia thrives on two aspects — one, extreme innovation and two, the excitement of becoming a global leader in the blue-collar segment. Xiaomi’s focus on innovation and the disruption they have brought to the market has clear adjacencies with us.” Dungarwal added.

The fact that the core team has held together for the past 5 years, talks about the long-term belief of the team.

Leave a Reply

Your email address will not be published. Required fields are marked *