Gigforce raises $3M in pre-Series A round led by Endiya Partners
- ByAyushi Ray | September 8, 2021
Tech-driven staffing startup with a focus on gig workers, Gigforce raises $3M in pre-Series A round led by Endiya Partners. Commenting on the fundraise, Chirag Mittal, Co-founder and CEO, Gigforce, said, “The market is underserved today because of the lack of suitable technology to manage scale. India’s top five staffing companies together just about manage a workforce of one million. This is set to change with strong tailwinds, including the proliferation of inexpensive smartphones, ubiquitous Internet access for blue and grey collar workers, maturing technology platforms, simplification of labour codes, and the huge growth trajectory India will witness in the next 10 years.”
According to Gigforce, in the last 12 months, it has achieved an annual revenue run rate (ARR) of Rs 25 crore. It claims to grow 2X every quarter. The startup said the huge demand surge in the recent months is expected to touch Rs 100 crore soon. Gigforce follows a vertical-specific strategy and focuses on the logistics sector. It already has over 20 enterprise clients categories, including ecommerce, food, and grocery deliveries. It serves aggregators, marketplaces and direct-to-consumer brands, including Delhivery, Flipkart, BigBasket, FreshToHome, and Grab. Gigforce also focuses on specialised and fast-growing categories like electric vehicles, OEMs, and operators.
Follow Startup Story
Related Posts
