Staffing firm Gigforce raises $2 million from Meraki Labs

Gigforce, an on-demand staffing platform, has announced an additional investment of 2 million dollars from Meraki Labs. With the latest funding of Meraki Labs, the gig-tech platform has raised $6 million so far.

Gigforce is looking to improve its solution with the latest round of funding and hopes to reach an active 50,000 Giger's at the end of the year while is also working towards the medium-term goal of an active million Giger's by 2025.

Chirag Mittal, Co-Founder, and CEO, Gigforce, added, "As an organization, expansion of our team size by more than 2.5x reflects our growth trajectory to grow bigger and better. In addition, we have stalwarts from industry continuously joining our leadership team across various functions".

The gig-tech startup operates an application(platform) that lets Gigers sign-up online on its app & provides an interface for Giger's to document their work, select gigs, and get paid. The company is also experimenting with adding benefits to its applications like insurance, quick training, doctors-on-call, microcredit, and other top-of-the-line partners. The app also comes with unique technology for payment processing that is proprietary & is designed to process high-velocity payments specifically made for the gig ecosystem.

The gig economy of India is expanding rapidly. A report from ASSOCHAM indicates that the gig economy in India is predicted to grow to $455 billion with a CAGR of 17 percent by 2024. Another estimate suggests that India is expected to have 350 million gig jobs by 2025, providing an enormous chance for job seekers to profit and adapt to the shifting work environment and use solutions like Gigforce to tap into the expanding demand for freelancers.

"The gig economy can provide a solution to India's rising unemployment crisis in a manner that caters to the aspirations and overall well-being & aspirations of gig-seekers. Moreover, using technology to build a strong ecosystem will ensure that benefits are distributed evenly and are scalable," said Mridu Jhangiani of Meraki Labs.