Startup behind job portal for semi-skilled Rozgar Mela gets seed funding from Ennovent & Upaya Social Ventures
Delhi-based placement agency for the semi-skilled Anant Learning & Development Pvt Ltd has raised an undisclosed amount in seed funding from Impact Investment Holding, a fund managed by Ennovent GmbH and Upaya Social Ventures, the company said.
Founded in 2012 by Ajit Singh, Anant Learning aims to become one of India's leading organisations providing placement support to both urban and rural youth. The company maps semi-skilled manpower in the country through post placement tracking and assessments. It provides data on its recently launched livelihood promotion job portal Rozgar Mela and also caters to persons with disabilities (PwDs) and workers in the informal sector.
Anant's job portal is supported by a unique SMS-based application and an active call centre with a toll free number to reach out to the stakeholders to bridge the gap between job seekers and employers.
Singh, who started his career as an army officer, has almost two decades of experience in diverse fields. He has also run vocational training operations across the country.
"We have been working to ensure that young people from poor communities have adequate skills training and regular access to employment," said Singh.
"This investment will enable us to increase the scope of data collection for our job portal Rozgar Mela. Also, by investing in technology infrastructure, we will be able to track and analyse the impact of our interventions on both job seekers and employers," he added.
"The unique selling proposition of Anant Learning is its strong link to the industry and direct contact with the beneficiaries. This helps the company understand the needs of potential employees and connects the disconnected rural youth to the employment system," said Joel Rodrigues, manager, Ennovent Circle.
This is the eighth investment by Ennovent Circle and fourth through its Impact Investment Holding fund.
Impact Investment Holding provides early-stage equity and debt capital to companies operating in South and Southeast Asia. The fund seeks to invest in renewable energy, healthcare, distribution, education, clean air technology, water management, organic agriculture and sustainable forestry and typically invests between $0.13 million and $0.74 million in its portfolio companies.
Upaya invested in Anant Learning through its Creative Venture Fund (LAF), a venture philanthropy fund that invests in employment and empowerment initiative.
"Upaya sees Anant Learning's platform as enhancing the ability of young men and women from poor communities to earn a living. By harnessing technology along with a geographically diverse network of trainers and assessors, Anant Learning is able to remove the inefficiencies from the system," said Upaya's director, business development, Sreejith Nedumpully.
Founded in 2010, Upaya Social Ventures is a non-profit micro-finance organisation providing technical and financial resources.
(Edited by Joby Puthuparampil Johnson)