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Indian staffing platform Smartstaff raises $6.2 million in Series A funding

04 July 2023

Blue-collar staffing platform Smartstaff, based in India, has raised USD 6.2 million in Series A funding from Nexus Ventures, Arkam Ventures, Blume Ventures, and Alteria Capital.

With this latest round, the total funding raised by the company stands at USD 10.5 million.

In 2021, the platform announced that it had raised USD 4.3 million.

The platform focuses on three aspects of blue-collar staffing: recruitment, management, and retention via end-to-end solutions.

Arpit Dave, Co-founder and CEO, Smartstaff said, "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.”

Bala Srinivasa, Managing Director, Arkam Ventures said, “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.”

India's manufacturing industry is projected to grow at an annual rate of 8-10% over the next 5–10 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.

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