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Venture Catalysts bets on blue-collar worker-focussed platform MyKaam
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Jobshob Tech Pvt. Ltd, which operates the blue-collar worker-focussed employment and recruitment platform MyKaam, has raised funding from startup incubator and accelerator Venture Catalysts

The funding exercise was led by Venture Catalysts co-founder Apoorva Ranjan Sharma, with participation from Icebreaker Tech’s Mrunal Jhaveri, AUM Financial Advisors Blogger Nirav Panchmatia, Rivoli Fashions’ Vikas Kapoor and Samhit Ventures MD Karan Garg.

However, the company did not disclose the amount it has raised.

MyKaam said in a statement it will use the funds to enhance its technological infrastructure, scaling up operations and recruiting more business to its platform.

“New India is using internet-enabled platforms to make significant improvements in their lives. We want to play an active role and keep addressing the employment needs of Indians, and blue-collar workers in particular,” Ashish Gupta, founder at MyKaam, said.

Bengaluru-based MyKaam, incorporated last year, says it uses a video-based platform to connect blue-collar workers with local recruiters to help them find jobs in their area. The company allows local businesses to post job listings in short video formats and lets potential employees directly chat with them.

Separately, Sharma said Venture Catalysts was confident of its bet on the company because of its focus on the unexplored blue-collar recruitment segment.

Venture Catalysts

The startup incubator and accelerator’s investment spree in early-stage firms has continued unabated despite the nationwide lockdown in the wake of the Covid-19 pandemic. It was set up in 2015 by Sharma, Anuj Golecha, Anil Jain and Gaurav Jain.

Venture Catalysts has conducted at least ten investments this year, including in MyKaam.

Other bets it has made include dietary supplement brand Power Gummies, insure-tech startup Insurance Samadhan, prayer materials startup OM Bhakti, artificial intelligence-enabled helmet maker Altor, enterprise-focused neo-banking platform Nupay, financial-technology startup GetVantage, corporate venturing platform IncubateHub and solar panel cleaner startup Skilancer.

In August last year, Venture Catalysts floated a fund, the 9Unicorns Fund, with a corpus of Rs 300 crore ($43.44 million), to help early-stage Indian startups expand their business.

The incubator and accelerator said its network of high net-worth individuals struck 60 investment deals and 27 exit transactions in 2019. Individual investors committed a total of Rs 117 crore (around $16.39 million), with the amount being part of a larger sum of Rs 563 crore that Venture Catalysts facilitated during these deals.

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