Mumbai Angels and others invest in PickMywork, a digital distribution network for internet companies, as part of its Seed funding round

 

Mumbai Angels and others invest in PickMywork, a digital distribution network for internet companies, as part of its Seed funding round

The fresh funds will be utilized for expanding the startup’s distribution network across geographies in India   Mumbai, September 20, 2022: Mumbai Angels, a premium platform for private investments, recently participated in a USD 1 Million Seed funding round for PickMyWork, a gig platform for upskilling and enabling easy sales scale up for digital solution providers. The round also saw participation from others like SOSV's Orbit Startups, Soonicorn Ventures, Upaya Social Ventures, Blume Founders Fund, Venture Catalyst, 888 Network, Imperier Holdings, and WeFounderCircle. The company plans to use the fresh funds in expanding its distribution network across geographies pan India. A part of the raised investment will also be utilized in strengthening the technology backbone which will further increase the efficiency of the distribution

Nandini Mansinghka, CEO & Co-Founder of Mumbai Angels commented, “As the digital revolution continues to set up new trajectories for innovative business solutions, PickMyWork’s offerings are a tremendous value add for growth-driven enterprises and the gig economy. With a proven track record of established growth in the past, we are confident that the income multiplier platform is set for a seamless expansion across new territories.”

Commenting on the funding round, Vidyarthi Baddireddy, Co-Founder & CEO, PickMyWork said, "With new internet businesses launching every day there is a dire need for a strong distribution pillar to catalyze their growth. It becomes an impossible task for these businesses to penetrate the tier 2 and tier 3 markets where there is still a grave need for assistance as these geographies gradually adapt to the digital world. PickMyWork is bridging this gap for various businesses, while simultaneously creating income sources. We have seen the model succeed, which is also reflecting in our month-on-month growth rate of 30 per cent. We are glad that our investors are here to guide us as we move towards our ambitious targets," said Vidyarthi, CEO, PickMyWork.”

Founded in 2019 by Kajal Malik, Vidyarthi Badireddy, and Utsav Bhattacharjee, PickMyWork is a gig platform that helps digital companies acquire end customers for their products through a Pay-per-Task model at a very low CAC.

About Mumbai Angels Started in 2006, Mumbai Angels is India's premier platform focused on new venture investing. Mumbai Angels today has a 200+ strong portfolio across sectors and cities in India. Of the overall portfolio, the platform has exited/secured the next round of funding for 100+ of them. Today the platform has 700+ investors spread across 60+ global cities.