PickMyWork, an India-based startup that assists digital companies to acquire end customers (individual users and merchants), has raised $1 Million in series seed round funding led by SOSV’s Orbit Startups in participation from Soonicorn Ventures, Upaya Social Ventures, Blume Founders Fund, Venture Catalyst, Mumbai Angels, 888 Network, Imperier Holdings, and We Founder Circle.
The round also saw investment from leading CXOs including Akash Gupta (CEO of Zypp Electric), Gaurav Chopra (CEO IndiaLends), and Prajakt Deolasee (CTO of Turtlemint).
The startup plans to use the raised funds in growing its network of agents in various geographies pan India. A part of the raised investment will also be utilized in strengthening the technology backbone which will further increase the efficiency of the distribution.
PickMyWork currently works with 3,00,000 gig workers as part of its network, offering them supplemental earning opportunities to increase their income.
The platform has worked with 25 clients to date, assisting them in acquiring 5 lakh end customers. Its clients include Meesho, Freecharge, IndusInd Bank, Flipkart, Fi Money, Amazon Pay, Airtel Payments Bank, AU small finance bank, and others.
Speaking on the fundraise, Vidyarthi, CEO of PickMyWork said, “With new internet businesses launching every day there is a dire need for a strong distribution pillar to catalyze their growth. It becomes an impossible task for these businesses to penetrate the tier 2 and tier 3 markets where there is still a grave need for assistance as these geographies gradually adapt to the digital world.”
“PickMyWork is bridging this gap for various businesses, while simultaneously creating income sources. We have seen the model succeed, which is also reflected in our month-on-month growth rate of 30%. We are glad that our investors are here to guide us as we move towards our ambitious targets,” he added.
Commenting on the investment round in gig-based startup, William Bao Bean, Managing Director of Orbit Startups, has said, “PickMyWork is solving the biggest challenge in terms of customer acquisition for international corporations and high-growth startups alike, all while helping India’s gig workers upskill and create the future they want. We’re proud to be a part of their mission as the team goes on to empower India’s entrepreneurs and shape the course of technological advancement in Tier 2+ cities.”
Further talking about the funding round, Syed Faiz Hasan, Director of Imperier Holdings has said, “Gig economy has been witnessing tremendous growth in India and globally. Post-pandemic the flexible workforces and adoption of hybrid work models can reshape the future of work dynamics. PickMyWork in a short period has been able to capture a considerable portion of the potential market. Imperier holdings are confident of PickMyWork team’s potential and their business approach.”