Vahan.ai Secures $10 Million to Revolutionize Blue-Collar Recruitment in India
September 19, 2024Vahan.ai, an AI-powered recruitment platform focused on India's blue-collar workforce, has successfully raised $10 million in funding.
This funding round was led by Khosla Ventures, a prominent Silicon Valley firm, with participation from Y Combinator, Gaingels, and Vijay Shekhar Sharma, founder of Paytm.
According to founder Madhav Krishna, the new funds will be utilized to enhance AI recruitment technology and expand into new job verticals, including manufacturing and retail.
Vahan.ai currently supports recruitment interviews in English and Hindi, with plans to expand to eight major Indian languages and several hundred dialects within the next year.
The platform aims to address the anticipated 70% job growth among India's blue-collar workers by 2030, a segment that is expected to contribute significantly to the country's employment landscape.
Currently, Vahan.ai facilitates the hiring of approximately 25,000 workers each month, demonstrating the transformative potential of AI in streamlining recruitment processes.
The company has experienced significant growth, increasing its job placements from 600 per month during the pandemic to 25,000 now.
By helping over 500,000 individuals secure employment, Vahan.ai has improved the stability of their families, enabling better access to education, healthcare, and basic necessities.
Krishna highlighted that around 81 million people in urban India live below the poverty line, and Vahan.ai aims to provide job opportunities to this demographic.
Vinod Khosla praised Vahan.ai for its innovative approach to recruitment, emphasizing its scalable solutions that benefit millions in the blue-collar workforce.
The gig workforce in India has grown at an estimated annual rate of 13% post-pandemic, with projections suggesting that over 90 million jobs will be created in this sector by 2032.
Vahan.ai seeks to reach a broader audience by targeting potential hires in smaller, remote towns across India.
Summary based on 6 sources
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Sources
Bloomberg • Sep 18, 2024
AI Startup Helping Hire Gig Workers Gets Vinod Khosla BackingEntrepreneur Media India • Sep 19, 2024
Blue Collar Recruitment Platform Vahan.ai Raises $10 Million in Series B FundingEconomic Times • Sep 19, 2024
Recruitment platform Vahan raises $10 million in funding led by Khosla VenturesBusinessLine • Sep 20, 2024
Blue-collar recruitment platform Vahan.ai secures $10 mn funding in Series B led by Khosla Ventures