Fundraise. Staffing platform Smartstaff raises $6.2 mn in Series A

Smartstaff, a blue-collar staffing platform, has raised $6.2 million in Series A funding from Nexus Ventures, Arkam Ventures, Blume Ventures, and Alteria Capital.

With the latest round, the total funding raised by the company stands at $10.5 million. It focuses on three crucial aspects of blue-collar staffing: recruitment, management, and retention via end-to-end solutions.

“This investment serves as a testament to the immense value and potential that we bring to India’s growing manufacturing industry. With the support of our investors, we are well-positioned to revolutionise and streamline the traditional staffing landscape,” said Arpit Dave, Co-founder and CEO, Smartstaff.

• Also Read: ‘Exciting phase’. VC firm Arkam Ventures launches Fund II of $180 million

India’s manufacturing industry is projected to grow at an annual rate of eight–10 per cent over the next five–10 years. According to the company, over the past two years, it has recruited, trained, and employed 11,000 workers across 50 different manufacturers. Additionally, they have facilitated three million shifts and work with brands such as Raymonds, Cotton World, SuperDry, and Marks & Spencers.

• Also Read: Nexus Venture Partners close $700 mn venture capital fund

“Over 100 million manufacturing workers in India are now digitally connected via smartphones and their participation in India’s public digital stack (Aadhar, UPI, among others). The company has leveraged this shift to build a platform that directly addresses the massive challenges of worker productivity and attrition that plague India’s manufacturing industry,” said Bala Srinivasa, Managing Director, Arkam Ventures.

• Also Read: Blue-collar workforce management platform Smartstaff raises $4.3 million

It was established in February 2021 and currently has a team of 140 members with diverse expertise in product, technology, marketing, and operations. 

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