Japan’s Mynavi Corporation Picks Up Majority Stake In Awign
SUMMARY
Awign said in a statement that this partnership will also signify the departure of few of Awign’s early backers, including Capria, Lumis, MSDF, Amicus Capital and Pankaj Bansal
Launched in 2016 by Sarthak, Gurpreet Singh, and Praveen Kumar Sah, Awign claims to have a network of more than 1.5 Mn gig workers with over 175 leading enterprises
Sarthak said that in terms of the global growth goals, Awign aims to onboard more global companies to the clientele and aims to be one of the key HRtech players of Asia
HRtech startup awign
has announced a majority stake acquisition by Japan-based HRtech platform Mynavi Corporation in an all cash deal.
Without disclosing the financial details, Awign said in a statement that this partnership will also signify the departure of few of Awign’s early backers, including Capria, Lumis, MSDF, Amicus Capital and Pankaj Bansal.
According to the startup, this partnership and the patient capital will further enable Awign to focus on long term strategic growth and deeper value creation without getting affected by the fundraising market environment.
“This partnership will help Awign to scale its operations and go beyond its core strengths. Our primary focus remains on strengthening our growth engine by onboarding enterprise customers worldwide and launching new categories in the HR space,” said Annanya Sarthak, cofounder and CEO of Awign.
“The synergy between our visions, empowers us to tackle the challenges in the HR sector more effectively,” Hidekazu Ito, Mynavi India’s MD said.
Through this partnership, Awign aims to build 3 key areas:
- Building a power team of best suited talent
- Enhancing brand visibility both in India
- Internationally and investing in technology to expand its digital infrastructure and build better platforms.
Launched in 2016 by Sarthak, Gurpreet Singh, and Praveen Kumar Sah, Awign claims to have a network of more than 1.5 Mn gig workers with over 175 leading enterprises. It collaborates with enterprises in sectors including retail, FMCG, automotive, education, manufacturing, construction, pharmaceuticals and more.
Talking to Inc42, Sarthak said that in terms of the global growth goals, Awign aims to onboard more global companies to the clientele. In the coming years, the startup aims to be one of the key HRtech players of Asia.
Sarthak further confirmed that the startup raised the last funding in 2022 when it bagged $15 Mn in Series B round. According to the CEO, as the cash burn is low, the startup is not planning to conduct any further round soon.
