Smartstaff Raises $6.2 Mn In Series A Funding
Smartstaff, a Bengaluru-based blue-collar workforce management firm, has raised $6.2 million (Rs 50.7 crore) in a Series A funding round from existing investors Nexus Ventures, Arkam Ventures and Blume Ventures, along with new investor Alteria Capital.
As per startup, the freshly raised funds will be used for expansion and as well as foraying into newer industries such as the garment, among others.
Smartstaff | Hire, Manage & Retain Blue-collar Workforce
Founded by Arpit Dave, Gnanesh Chilukuri, Viral Chhajer, and Aravind Reddy in 2021, Smartstaff is a full-stack blue-collar worker management platform that offers end-to-end solutions for recruitment, workforce management, and retention.
The startup simplifies the staffing process for mid-sized and large manufacturing enterprises and enhances workforce productivity and output by leveraging cutting-edge technology and innovative staffing management techniques.
Speaking about the development, Arpit Dave, Co-founder and CEO of Smartstaff, said,
“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.”
Smartstaff offers its workers various benefits, including an instant advance salary, leave bonuses, loans, live chat support, an emergency SOS feature, and a dedicated helpline for the specific needs of female workers.
The Bengaluru-based blue-collar workforce management firm claims to have recruited, trained, and employed 11,000 workers across 50 different manufacturers over the past two years. It has facilitated three million shifts, resulting in workers collectively earning over Rs 100 crore in wages.
As per the startup, manufacturers working with them have seen a 20-30% increase in output per worker and have reduced daily worker absenteeism by 30%. SuperDry, Raymonds, Cotton World, and Marks & Spencer are some of its client brands.
Commenting on the development, Bala Srinivasa, Managing Director, Arkam Ventures, 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.”
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