AI-powered blue-collar workforce recruitment platform Vahan.ai on September 19 announced its Series B funding of $10 million, led by Khosla Ventures and a consortium of investors including Y Combinator, US-based VC firm Gaingels and Paytm founder Vijay Shekhar Sharma.
“This new funding represents a significant milestone for Vahan.ai, fuelling its plans to expand into industries such as manufacturing and retail,” the company said in a release.
The company raised $8 million in Series A in September 2021. Vahan was a part of Airtel’s Startup Accelerator Program and the telecom giant also picked up an 8.82 percent stake in the firm in 2019.
The Bengaluru-headquartered firm has placed over 5 lakh workers in more than 480 cities with leading companies such as Zomato, Swiggy, Flipkart, Zepto, Blinkit, Amazon, Rapido, and Uber.
Vahan says its platform significantly reduces costs and turnaround for recruitment, use AI in hiring processes and drive large-scale employment.
“We have come a long way from providing 600 jobs a month during the pandemic to 25,000 jobs a month now. With our impact growing multi-fold, we are excited to drive positive change and help the youth of Bharat find employment,” Vahan founder and CEO Madhav Krishna said.
Vahan’s AI recruiter conducts interviews in English and Hindi and has plans to include eight major Indian languages and several dialects within the next year.
The gig workforce in India grew at an estimated 13 percent annually post-pandemic, projections indicate that over 90 million jobs will be created the gig sector by 2032, the company said. The value of services will touch $250 billion, contributing approximately 1.25 percent to India’s Gross Domestic Product (GDP).
Khosla Ventures founder Vinod Khosla said he has seen first-hand how the company’s innovative approach is redefining recruitment for the blue-collar workforce in India. “Vahan.ai stands out by not only reducing the effort in repetitive tasks but by providing meaningful, scalable solutions that open doors for millions," he said.
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