Skillbee, a startup that helps migrant workers get jobs, has raised $3.2 Million in a seed funding round from Good Capital and Vibe Capital. The round saw participation from investors –Access Bridge Ventures and Wamda Capital, and Bharat Founders Fund including, Rahul Chaudhary from Treebo, Zishaan Hayath from Toppr, Vikram Chopra from Cars24, Saurabh Garg from NoBroker, and Harpreet Singh Grover from CoCubes.
Skillbee will deploy funds to strengthen its presence among migrant workers and double the number of companies hiring through it. It also plans to enhance the bouquet of services the app offers.
Skillbee Raises $3.2 Million in Recent Funding Round
According to Ujjawal Chauhan, the co-founder of Skillbee, the startup will be investing funds in three areas – business expansion in India, adding new services to the platform, and partnering with other companies to offer credit and insurance services to blue-collar workers.
The co-founder of Skillbee, Gautham Vinjamuri, said,
“The participation of such impeccable investors and founder operators in this round of funding and their faith in our mission and vision goes on to show how important the human capital issue is. We are grateful to our investors that they are entrusting us to offer solutions and bring a massive positive change in the lives of migrant workers,”
Skillbee is a platform that connects foreign migrant workers with employment opportunities. It was founded in 2020 by Chauhan and Gautham Vinjamuri. On its website, the business claims to have over 500K foreign employees enrolled.
It also says that over 20,000 businesses have signed up to use the app to employ labor from India, Nepal, Bangladesh, the Philippines, and other African nations.
Skillbee has worked with ten firms in the UAE to hire foreign employees through its platform, according to Chauhan. To meet the UAE’s need for a delivery workforce, the firm is partnering with training institutes to upskill workers.
When it comes to expanding its company in India, the firm will concentrate on job seekers in Haryana, Uttar Pradesh, Rajasthan, and Madhya Pradesh, since these areas have seen an increase in the number of blue-collar employees fleeing to Dubai and Saudi Arabia.
Rohan Malhotra, the Managing Partner at Good Capital, said,
“India has one of the largest human capital pools and demographic dividends in the world, yet we’ve not been able to provide a substantial portion of the population with adequate opportunities. The borders between countries are shrinking, and we believe Skillbee will be the go-to platform that bridges jobs in developed countries and workers in developing nations.”
According to a BCG report, the workforce shortage crisis in developed countries poses a humongous risk. 90% of the UAE’s workforce comprises international migrant workers. In 2020, remittances to India from migrant workers abroad amounted to $83 Billion, while in Pakistan it was about $26 Billion. Check out Skillbee and learn more about them!