Exclusive: Gigforce raises fresh capital led by 9Unicorns Accelerator Fund

Staffing platform Gigforce has raised Rs 7.75 crore or $1 million led by 9Unicorns Accelerator Fund. This is the second funding event for the Gurgaon-based company in the past eight months.

The board at Gigforce passed a special resolution to issue 682 compulsory convertible preference shares (CCPS) at an issue price of 1,13,694 per share to raise Rs 7.75 crore.

9Unicorns Accelerator Fund spearheaded the round with Rs 3.50 crore while ZNL Growth Fund and Venture Catalysts have pumped in Rs 2.25 crore and Rs 2 crore respectively. Prior to this round, it scored a $2 million worth round from Meraki Labs in February this year. As of now, Gigforce has raised a total of $7 million to date.

As per Fintrackr’s estimates, the company has been valued around at Rs 460 crore or $59 million (post allotment). 

Founded in June 2020 by Anirudh Syal, Chirag Mittal, and Parag Modi, Gigforce provides complete staffing solutions in gig models (read as off-roll employees). The company claims to have a presence in over 150 cities with more than 30 clients and 5,000 gigers across Delhivery, Blinkit, Flipkart, Pidge, FreshToHome, Zepto, Ecom Express, Shadowfax and others.

The company targets 50,000 gig workers by the end of the year and 1 million by 2025.