Amid the layoff season, these five startups are on a hiring spree
- Over 11,000 people have lost their jobs so far this year and it could increase further to 60,000.
- Experts predict that the flow of capital is expected to dry for the next 18-24 months.
- In spite of the stress, funds that startups raised grew by 28.6% in funding value between January to April this year, according to a report by GlobalData.
- Here are few startups that are looking to expand their workforce amid layoff season.
AdvertisementStartups in India are facing the brunt of a funding winter and have laid off over 11,000 people so far. It could get worse as experts predict that over 60,000 people could lose their jobs as the flow of capital is expected to remain dry for the next 18-24 months.
According to Business Insider India’s calculations, 25 startups, mostly in the ecommerce and edtech space, have resorted to retrenchments. Seven unicorns — Ola, Blinkit, Unacademy, Vedantu, Cars24 and Mobile Premier League (MPL) — were part of the firing list too.
In spite of the stress, funds that startups raised grew by 28.6% in funding value between January to April this year, according to a report by GlobalData. It also said that Indian startups raised $12.1 billion till April – via 672 venture capital deals.
It means, a few, if not many have the space and funds to grow. Here’s a list of startups that are looking to expand their workforce this year.
1. E-learning platform Utkarsh to hire 500 people
Edtech startup Utkarsh is planning to recruit 500 employees from tier 2 and 3 cities by the end of FY23. It is focussing on hiring from Hindi-speaking states like Rajasthan, Uttar Pradesh, Haryana, Bihar and Madhya Pradesh.
The company plans to hire senior leadership, educators, and expand their new sales and customer service team.
2. Unicorn LeadSquared to ramp up its employee headcount by 800
SaaS-based marketing automation company LeadSquared, which recently turned into a unicorn after raising $153 million in a series C round, said that it’s looking to double its headcount in a year and a half.
This Nilesh Patel-led company will be hiring 800 people over the next few months across sales and marketing, finance, product, engineering, delivery and support functions, as cited by YourStory.
Advertisement3. HappyLocate to hire 600 people by FY23
Tech-based one-stop relocation platform HappyLocate announced its plans to hire 600 people across six departments — sales, HR, accounts, operations, marketing and tech.
The company intends to hire fresh graduates from over 50 universities and experienced professionals across the country.
4. Cybersecurity startup Sequretek to strengthen its workforce to 500
Cybersecurity startup company Sequretek to increase its employee headcount from 400 to 500 people across US, Europe, and Asia.
AdvertisementThe company makes cybersecurity accessible and affordable through a combination of products, platforms and services.
5. Vivifi India to add 1,000 new employees
Fintech NBFC Vivifi India Finance aims to amplify its workforce by hiring 1,000 new team members across various streams in FY22.
The organization is also looking to expand its geographical territories to newer locations, including in tier 2 and 3 cities, in various states, pan-India, with the headquarters remaining in Hyderabad.
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