Xiaomi invests Rs 42 crore in Mumbai-based recruitment platform WorkIndia

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WorkIndia has raised a sum of Rs 42 crore from Xiaomi India. The funds will be utilised in bolstering the company’s technological capabilities. The gig workers recruitment platform will also utilise the funds to further strengthen the WorkIndia team.

The company has claimed that over 1.5 crore job seekers have registered on its platform since its inception in 2015. WorkIndia will also invest in strengthening the tech backend for improved matchmaking, predictive and real-time analytics for employers, said founder Kunal Patil.

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The Mumbai-based recruitment platform has a geolocation feature that helps registered candidates filter jobs by their preferred locations. It also has a mobile app that works with weaker internet connections. This helps candidates in towns with poor internet connectivity. The app has over 2.1 crore unique app sessions per month, claims the company.

“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,” said Kunal Patil and Nilesh Dungarwal, Co-founders at WorkIndia.

Xiaomi and Chinese companies’ interest in Indian startups

Xiaomi MD Manu Kumar Jain, mentioned that the company has leveraged the high smartphone penetration in India and provided an opportunity to people from all segments, working as an equaliser. This isn’t the first time Xiaomi has invested in an Indian startup. In January 2018, two years ago, Xiaomi led an $18.2 million funding round in Sharechat, a Bengaluru-based regional social platform.

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Xiaomi also later invested in Samosa Labs along with Sequoia Capital. Then again, the company participated in the $13.4 million funding round of Bengaluru-based ZestMoney. Chinese investors have increased their investments flowing towards the Indian startup ecosystem recently. Even apart from Xiaomi, names like Tencent, Bytedance, Shunwei Capital and Alibaba have invested quite a bit in Indian companies.

(With inputs from IANS)



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