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BlackSoil on Monday said, “It has invested Rs 4 crore in working fulfillment platform Awign Enterprises PVT Ltd, as venture debt facility.”
“The fresh funds will be used for working capital requirement, and business expansion,” the statement said.
Founded in 2016 by IIT-alumni Annanya Sarthak, Gurpreet Singh, and Praveen Sah, Awign Enterprises operates as a work fulfillment platform focussed on the gig workforce, and has 6.5 lakhs registered workforce, gig workers, across 450 cities in India and has completed over 50 lakh tasks to-date.
Speaking on the fundraise, Awign’s co-founder Annanya Sarthak, said, “We are extremely delighted to bring on board BlackSoil in Awign’s growth journey. The funds received will help us to scale up faster and will be used for working capital requirements and business expansion. We are hoping for many years of a fruitful relationship with Blacksoil and looking to grow with investors who have put their belief behind our business model.”
“Awign has built an innovative model that delivers high value to the clients while providing employment and skilling opportunities to the Indian youth. Post-covid, there has been wide adoption of gig workers and it is our pleasure to partner with Awign to help them grow in this disruptive industry pivoted for strong growth.” Ankur Bansal, Co-founder, and Director, BlackSoil, added.