Smartstaff, a blue-collar staffing platform, has successfully raised $6.2 million in equity and debt funding during its recent Series A funding round.
The funding comes from leading investors such as Nexus Ventures, Arkam Ventures, Blume Ventures, and Alteria Capital. With this fresh capital, Smartstaff wants to expand its geographical presence and recreate its success in the garment industry across other sectors. Led by innovative founders Arpit Dave, Viral Chhajer, Gnanesh Chilukuri, and Aravind Reddy, Smartstaff is stepping in to change the traditional staffing process.
Smartstaff: Transforming Blue-Collar Staffing
Founded in 2021, Smartstaff eases the staffing process for mid-sized and large manufacturing enterprises. Arpit Dave, the co-founder of Smartstaff, said that over 100 million workers in India are now digitally connected via smartphones and are a part of India’s public digital stack (Aadhar, UPI). The Smartstaff app has used this to build a platform that will directly address the challenges faced by employers of low worker productivity and attrition.
With a user-friendly approach, the app will concentrate broadly on two verticals: workers and businesses. The vertical for workers promises Provident Fund (PF), Employees State Insurance Corporation (ESIC), live chat 24×7, and a facility to draw salary in advance in cases of emergency. Considering the safety of its workers, the Smartstaff app also has an emergency SOS feature and a dedicated helpline for the needs of female workers.
The availability of such features has made the application popular among workers. The app offers features like live attendance and payroll lists in the business vertical, bringing a systematic and transparent approach to the blue-collar industry. The client management teams in Smartstaff work dynamically to understand the pain points for the collaborating companies and, in turn, do the same for workers getting enrolled through them.
By streamlining the conventional staffing methods, Smartstaff enhances workforce productivity, boosts output, and reduces absenteeism.
Impressive Milestones and Impact
Varun Malani, the Acquisition team leader, expressed how the first milestone for them at Smartstaff was getting their first paid client, and since then, it’s been a fantastic growth pace.
Over the past two years, Smartstaff has successfully recruited, trained, and employed 11,000 workers across 50 different manufacturers. The Company’s efforts have facilitated three million shifts, collectively enabling workers to earn over Rs 100 crore in wages.
By bringing Smartstaff into the picture, the manufacturers working with them have seen a 20-30% increase in output per worker and reduced daily worker absenteeism by 30%. These achievements highlight the positive impact Smartstaff has had on the lives of blue-collar workers in India. The workers in the interviews across the manufacturing units have claimed that Smartstaff has helped them receive better and timely wages and support in times of difficulty.
Partnerships and Clientele
Smartstaff, the Bengaluru-based startup, has partnered with renowned brands such as Marks and Spencers, Cotton World, Raymonds, and SuperDry.
Smartstaff has established a strong presence in the garment manufacturing industry by collaborating with these companies, contributing to its exponential growth and success.
Sameer Brij Verma, Director of Nexus Venture Partners, expressed his excitement about the company’s workforce management and blue-collar sourcing platform, which could potentially reform the manufacturing industry. The investors’ confidence in Smartstaff further validates its game-changing approach and contributions to the ever-growing manufacturing sector in India.
Future Expansion and Diversification
With the new funding, Smartstaff plans to expand its operations beyond its core markets in South India and venture into more unexplored areas. Vikram Ithal, the finance director, expressed that by 2024, workers on the Smartstaff platform will grow ten times more, resulting in a team expansion. The firm gives tough competition to market players like Better Place and Work Jam, and in its third year of operations and with a total funding raised of $10.5 Million, Smartstaff looks forward to phenomenal growth.
Co-founder Arpit Dave stated eagerly in an interview, “This investment serves as a testament to the immense value and potential that Smartstaff brings to India’s growing manufacturing industry. With the unwavering support of our investors, we are well-positioned to revolutionize and streamline the traditional staffing landscape.”
By investing in strategic projects and training initiatives, Smartstaff aims to set its position as a national leader in blue-collar staffing.
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