Smartstaff Secures Strategic Investment from APAC Leader PERSOL Group
- ByStartupStory | September 11, 2023
PERSOL Group, a prominent player in the Asia-Pacific (APAC) region, has made a strategic investment in Smartstaff, a burgeoning staffing platform focused on blue-collar workers. With a diverse portfolio spanning temporary staffing, career transition services, IT outsourcing, and design and development, PERSOL Group has identified India as a key market for expansion.
Smartstaff distinguishes itself through its forward-looking approach to staffing, recruitment, management, and retention, underpinned by advanced technology and innovative staffing practices. Beyond traditional staffing solutions, Smartstaff streamlines payroll and compliance services for its clients. Moreover, the platform goes the extra mile to provide various benefits to its workforce, including instant salary advances, access to loans, leave bonuses, real-time chat support, an emergency SOS feature, and a dedicated helpline tailored to the needs of female workers. This unwavering commitment to employee well-being has yielded impressive results, slashing attrition rates to half of the industry standard.
India’s manufacturing sector is poised for robust growth, with projections suggesting an annual expansion rate of 8-10% over the next 5-10 years.
Shingo Ishida, Partner and Head of APAC, PERSOL Group, said, “Smartstaff’s focus on building a full stack innovative model, proprietary technology and inroads into the Indian market has led us to back them. The team comes with strong backgrounds in building companies to scale. At PERSOL we are excited to work together with Smartstaff to become a prominent leader in the blue-collar staffing solutions space in India.”
Arpit Dave, Co-founder & CEO, of Smartstaff, mentioned, “PERSOL Group has considerable experience in the staffing solutions space and we are delighted to have their support in offering cutting-edge solutions to the industry in India. We are looking forward to creating a much bigger impact on a nationwide scale in India.”
Founded in February 2021 by Arpit Dave, Viral Chhajer, Gnanesh Chilukuri, and Aravind Reddy, Smartstaff has garnered $10.5 million in funding from notable investors, including Nexus Venture Partners, Blume Ventures, Arkam Ventures, and Alteria Capital. This strategic investment by PERSOL Group marks a pivotal step in Smartstaff’s journey to redefine the blue-collar staffing landscape in India.
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