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| Rachit Mathur, Founder & CEO, Avenue Growth |
Avenue Growth plans to utilize the funds in the expansion of its verticals, strengthen its technology platform and expand its leadership team
Incepted in 2019, Avenue Growth empowers businesses to scale their operations in a lean manner by using On-Demand workers while giving opportunities to the workers to be Micro Entrepreneurs. Recognized as a business growth platform, Avenue Growth helps companies find, hire and manage flexible workers within a few simple steps.
The company is aggressively expanding its service portfolio and planning to launch new verticals in the GIG Workforce space. The platform plans to allocate the acquired funds to the growth of new verticals. Apart from this, the platform is also planning to utilize these funds to further strengthen its technology platform and expand its leadership team.
Delighted with the funding, Rachit Mathur- Founder and CEO said, "We are delighted to partner with India Accelerator. They are the first institutional investors who are joining us on this journey and we are honoured to have them onboard. The team has been very supportive and is continuously helping us unlock more opportunities. This is the beginning of a new business journey and we look forward to working with them and building a strong business."
Commenting on the investment, Deepak Nagpal, Managing Partner, India Accelerator, said, “India is an emerging gig economy, gaining overwhelming traction. Post the pandemic, the demand for the workforce started turning towards a mature side and it becomes imperative to make the market ready for disruption. There is an increasing demand for an on-demand workforce and we look forward to seeing Avenue Growth bridging the supply-demand gap while revolutionising the market for on-ground skilled workers.”
In a short span, Avenue Growth has acquired leading Indian and Global companies as its clients including Swiggy, Airtel, TATA AIA, V5 Global and many others. It is building niche industry verticals in the company and in the new financial year, the company will be launching three new verticals that will drive its idea for GIG work in India and how every Industry is embracing it.
Avenue Growth has previously raised funding from leading angel investors including Mr. Rajesh Sud, Mr. Aditya Malik, Mr. Avtar Monga, Mr. Priyavrata Mafatlal amongst others. Over the last few years, the company has been growing 5X year on year and emerging as a leading GIG Workforce platform in the country.
India Accelerator is the first GAN partnered accelerator in India, endeavoring to provide 360-degrees cross-functional mentorship, business growth and funding to entrepreneurs.
Government of India has recognised India Accelerator (IA) as the 'Best Accelerator of the Country!'. IA has created a vibrant entrepreneurial ecosystem in the country, have got 150+ startups under our portfolio, and have 1400+ mentors in our network who help startups in our industry-focused specialized verticals (HealthTech, AgriTech, Social, Energy, FinTech, Web 3.0, B2B SaaS, etc.). They work closely with Corporates and academia to help promote the development of an entrepreneurial mindset and generate innovative solutions to their real-world problems.
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