Blue and grey collar recruitment platform WorkIndia is set to raise ₹114.35 crore (approximately $13 million) in a new funding round, marking its first major capital infusion in nearly three years. The investment will come from Aavishkaar Capital, existing investor BEENEXT, and the company’s co-founders Nilesh Dungarwal and Moiz Arsiwala, according to regulatory filings.
WorkIndia’s board has approved the issuance of 3,067 CCPS and 100 equity shares at ₹2,27,369 per share, enabling the company to raise ₹72 crore. New investor Aavishkaar Capital will contribute ₹50 crore, while BEENEXT will invest ₹22 crore, strengthening its position as one of the largest shareholders.
Additionally, WorkIndia has cleared the issuance of 1,869 partly paid-up CCPS worth ₹42.35 crore to co-founders Dungarwal and Arsiwala. With this, the total capital committed in the round reaches ₹114.35 crore.
According to estimates by Entrackr, the round is expected to push WorkIndia’s valuation up by over 35%, rising to ₹803 crore ($91.25 million) from its previous valuation of ₹590 crore.
Founded by Kunal Patil, Nilesh Dungarwal, and Moiz Arsiwala, WorkIndia serves India’s massive blue- and grey-collar workforce, offering job opportunities across 50+ categories, including tele-calling, field sales, delivery, logistics, and retail staffing. The platform has raised around $30 million to date from investors such as BEENEXT, Xiaomi, SBI Holdings, and Insitor.
BEENEXT currently holds the largest external stake at 11.31%, followed by Xiaomi at 7.3%, while the co-founders collectively own 32.1% of the company.
In FY25, WorkIndia recorded a 25% YoY increase in operating revenue to ₹78.7 crore, while reducing losses by 25% to ₹23.06 crore, reflecting improving operational efficiency.
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