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BlackSoil invests debt capital in Awign

Bengaluru: Awign Enterprises Pvt Ltd, which operates a work fulfillment platform focussed on gig workforce and last-mile delivery, has raised Rs 4 crore (approximately $541,532 at current exchange rates) in debt capital.

Bengaluru-based Awign has raised this money from BlackSoil Capital, the non-banking arm of the alternative credit investor. It will use this fresh funding for meeting working capital requirements and business expansion.

Awign was set up in 2016 by Annanya Sarthak, Gurpreet Singh, and Praveen Shah. The company says it fulfills on-the-ground work required by businesses through a network of skilled and trained gig workers.

It says clients are billed on outcomes as opposed to a work-hours basis, and that its clients operate in sectors including education-technology, hospitality, e-commerce, mobility, information technology, and financial technology.

“Awign has built an innovative model that delivers high value to the clients while providing employment and skilling opportunities to the Indian youth,” BlackSoil co-founder and director Ankur Bansal said.

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