Hyperlocal job discovery startup will use the raised funding in its product development and growth plan.
A New-Delhi based hyperlocal job finding platform, has secured $140,000 in seed funding from SucSEED Indovation Fund and from other angel investors including Rohit Chanana, Jasminder Singh Gulati, Poonam Kaul, Sunil Kamath, Mandeep Singh, and Gunjan Paharia.
This funding will help the startup establish the proof of its concept and fund its product development and growth plan.
Atul Pratap Singh, Founder and CEO, Jobsgaar, said, “We either see masses trooping in large cities in search of work opportunities or likely staying back at their place of origin doing odd jobs forever, driven by necessities. On the other hand, there is a section of employers, small scale businesses, enterprises, MSMEs, and millions of other unorganised pursuits who are struggling every day to find a local workforce for their job responsibilities.”
“All these people rely either upon word of mouth, referrals or verbal commitment or classified ads. Jobsgaar is an endeavour to digitally enable this community of people to connect and minimise the void between a local employer and a primary job hunter.”
Atul Pratap Singh, started Jobsgaar in May 2020 which focuses on job loss impact and helps employers connect with the workforce at their native place.
The startup will initially focus on UP and Bihar to explore the potential.
Adding to his statement, Atul said, “From these towns, we’ve been able to onboard over 10,100 Job seekers and 170+ employers with over 6,500 conversations between job seekers and employers. Moreover 65 percent of job seekers are graduates and 14 percent are post-graduate, also 21 percent are 10+2. The average age of job seekers is 27 years”.
Atul further added that with the core focus on technology, Jobsgaar would like to bridge the gap between local workers who move away from their hometowns to earn a livelihood and employers who need to hire a workforce without any delay, with a simple solution. “This seed fund will help us accomplish this vision.”
According to Boston Consulting Group, there are 90 million jobs in India’s non-farm economy and 65 percent of the graduate workforce is always looking for a job. BCG estimates that the gig economy has the potential to service up to 90 million jobs in India’s non-farm economy alone, transact over $250 billion in the volume of work, and contribute an incremental 1.25 percent (approximately) to India’s GDP over the long term.
Co-founder and Partner, SucSEED Indovation Fund Dhiraj Kumar Sinha said, “Talent acquisition is the biggest challenge in Tier II-IV cities, Jobsgaar’s technology can lead to bridge the gap between job seekers and micro entrepreneur to scout talent effortlessly. This would further ensure that Tier I cities are not overcrowded, and job opportunities are made available closer to home”.