Awign Enterprises Pvt. Ltd, which operates a work fulfillment solutions provider, has raised $4 million (approximately Rs 28.27 crore at current exchange rates) in its Series A funding round from a clutch of investors.
Work10M, the Michael and Susan Dell Foundation and Eagle 10 invested in the Bengaluru-based startup. Existing investor Unitus Ventures also contributed to the funding round.
The company will use the funds for product and business expansion apart from exploring the strategic acquisitions, Awign said in a statement.
Gurpreet Singh, co-founder at Awign, said the firm’s strong technology-enabled platform with a unique offering of delivering 'work' and not 'workforce' has helped the company build expertise and win the favour of marquee customers across FMCG, CPG, retail, BFSI, telecom, e-commerce and mobility sectors.
The development comes after VCCircle reported in August that the company had secured money from a homegrown investor as part of its Series A funding round.
Separately, Michael and Susan Dell Foundation director of programs Rahil Rangwala said the Awign was providing measurable value to large companies through its business model.
Awign Enterprises was founded in July 2016 by the alumni of IIT-Ropar, Annanya Sarthak, Gurpreet Singh and Praveen Sah.
The firm outsources those aspects of a business’s core operations and sales tasks that require a human workforce. It converts these tasks into internships and outsources them to the student network it has built. The company counts Swiggy, Oyo, Accenture, Raymond, Wipro and Udaan among its clients.
In January last year, Awign raised Rs 5 crore ($784,500) from early-stage investor Unitus Seed Fund and other angel investors. At the time, the startup said it would use the funds to expand its presence to 12,000 pin codes across the country and partner with 100 corporates and startups.
Prior to that, in August 2017, VCCircle exclusively reported that Awign had raised about Rs 90 lakh ($140,000) from a clutch of angel investors.