Temasek-backed job matching platform GoodWorker, Bollywood actor Sonu Sood and vocational skill provider Schoolnet have formed a joint venture with an initial investment of Rs 250 crore to assist blue-collar workers with employment and skilling.
The technology platform aims to reach 10 crore blue-collar workers across the country by providing access to good jobs and career progression through upskilling services, followed by financial, healthcare and social security services.
"We were already building and had plans of certain amount of investment in India. When we came across Sood's Pravasi Rojgar and Schoolnet, and saw how they have reached 400 districts, we decided to combine forces with them bringing in out cutting edge technology to effectively expand their operations by finding the right talent," GoodWorker Board Member Pradyumna Agrawal told PTI.
GoodWorker, founded by Singapore-headquartered global investment company Temasek, will make an investment of Rs 250 crore in this joint venture, Agrawal added.
Pravasi Rojgar was launched by Sood along with Schoolnet in July 2020 as an employment portal for job-seekers, especially migrants, after millions lost jobs in the pandemic and went back to their native places.
This initiative has already onboarded over 10 lakh job seekers and thousands of employers within just four months of its launch.
Sood said that Pravasi Rojgar's has now expanded beyond just job matching in partnership with GoodWorker, to building on the combined strengths in migrant outreach, education, skilling and technology.
Sood had helped hundreds of migrant workers, who were stranded without jobs or place to stay, reach their homes during the lockdown, a step taken by the government to curb the spread of COVID-19 pandemic.
"This partnership will help in realising my dream of providing a better life and securing livelihood for millions of youths. With this we aim to give the migratory workers an opportunity to upskill and improve their job prospects," Sood added.
The joint venture will formally launch its product offerings early next year.
Talking about the revenue model of the venture, Agrawal said the JV will begin by charging placement fees for employers while it will be free for job seekers.
However, going forward there is likely to be charges for additional products, including skilling, as when they will be launched over time, he added.
Schoolnet India (formerly IL&FS Education and Technology Services) is an EdTech and skilling company, which focuses on leveraging the demographic dividend through initiatives related to education, employability and employment.