On-demand industrial workforce platform Factrika has raised Rs 8.9 crore in a seed funding round led by Info Edge, as it looks to strengthen its technology and expand across manufacturing clusters in India.
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Founded in July 2024 by Kshitij Puri and Gaurav Asthana, Factrika connects manufacturers with skilled and verified factory workers based on their skills and availability.
Puri is a second-time founder who previously built ZipLoan, a fintech NBFC. He is an alumnus of UCLA Anderson and the Institute of Chartered Accountants of India.
Asthana is an alumnus of BITS Pilani and IIM Ahmedabad and has more than two decades of experience across technology, operations and product roles in recruitment, fintech, agritech and marketplaces.
The startup said the fresh capital will be used to expand its team, develop its technology and increase its presence across industrial clusters in the country.
Info Edge had disclosed its proposed investment in Factrika, formally incorporated as Udyogtech Ventures Private Limited, in a stock exchange filing in August.
The filing said an investment of about Rs 8.9 crore in the first tranche would give Info Edge an 18.58% stake in the company on a fully converted and diluted basis. Info Edge also has the right to invest in a second tranche that could increase its holding to about 26%, subject to agreed conditions and performance milestones.
Addressing factory workforce shortages
Factrika said Indian factories face worker shortages of about 20% to 25% on a daily basis, with fragmented and low-tech contractor-based staffing systems contributing to workforce availability problems.
Its platform matches manufacturers with workers according to their skills and availability. The startup claims workers can be deployed within two hours.
Workers can accept shifts digitally, while Factrika manages attendance and payments and maintains digital records of their work history.
“India’s manufacturing workforce has a fundamental availability and reliability problem. We’re building Factrika to make industrial workforce supply more real time, skill led and transparent,” Puri and Asthana said.
More than 10,000 workers registered
Factrika said it has more than 10,000 registered workers across over 20 skill categories and maintains a worker show-up rate of more than 90%.
Deployment hours on Factrika’s platform have grown by 50% to 70% month on month, according to the startup. Factrika also reports that workers can earn 20% to 30% more through progression into higher-skilled roles.
Its clients include Lenskart, Munjal Kiriu, Asahi India Glass, Jubilant Foodworks, Epack Durables, PG Technoplast, Hanon Climate, Bidso and Talbros Auto Components.
Factrika is expanding across industrial clusters including Bhiwadi, Manesar, Bawal, Noida and Bahadurgarh. The company estimates India’s manufacturing workforce opportunity at $23 billion.
“Factrika is solving deep use cases in Indian manufacturing recruitment with an innovative, platform based approach. We’re excited to back them,” Hitesh Oberoi, managing director and CEO of Info Edge India, said.
