New Delhi | 8th June 2020: Venture Catalysts, India’s first, largest and pioneering integrated incubator and accelerator platform, has invested an undisclosed amount in MyKaam, an online job searching and recruitment platform for blue-collar workers. The startup uses a video-based platform to connectblue-collar workers with local recruiters andhelp them find next-door jobs.
MyKaam investment round was led by Dr. Apoorva Ranjan Sharma, Co-founder, Venture Catalysts, Mrunal Jhaveri of Icebreaker Tech LLP, Nirav Panchmatia of AUM Financial Advisors Blogger, Vikas Kapoor of RIVOLI Fashions and Karan Garg, MD Samhit Ventures.
Founded by Ashish Gupta, who previously launched a short video-based entertainment app called Clip, MyKaam on-boards local businesses to list their jobs in short video formats, which makes it easier for the blue-collar workers to search for jobs. When the candidates find a job that matches their preference, they can use the MyKaam chat feature to directly reach out to the recruiter. Likewise, recruiters can also seamless connect to potential employees through this platform.
MyKaam plans to utilize the funding in strengthening their tech stack, scale up operations and bring on board more businesses.
Elaborating on the funding, Ashish Gupta, Founder of MyKaam, said, “Jio effect has ensured easy accessibility of the internet across every demographic. New India is using internet-enabled platforms to make significant improvements in their lives. With MyKaam we want to play an active role in this transformation and keep addressing the employment needs of Indians and blue-collar workers in particular.”
Offering his insights, Dr Apoorv Ranjan Sharma, President and Co-founder, Venture Catalysts, commented, “Around 100-200 million blue-collar workers, which accounts for over 70-80% of the industry, have found themselves without any income source due to the nationwide lockdown imposed in the wake of the coronavirus pandemic. Unlike the white-collar professionals, they do not have access to or the understanding to navigate through sophisticated job searching portals such as LinkedIn. Their job-searching process is still heavily reliant on word-of-mouth. MyKaam has not only recognized this gap, but also introduced an innovative solution that will empower India’s blue-collar workforce by helping them easily secure jobs. It is a noble cause, and we are delighted to support their journey.”