AI company Vahan Secures Financing from LemmaTree and Acquires Training Platform L.earn
In a significant move for the HR tech industry, Vahan.ai has secured a strategic investment from LemmaTree, a Temasek-founded investment firm. This investment is set to bolster Vahan.ai's growth ambitions, indeed enabling 100,000 job placements per month.
Vahan.ai is an AI-powered platform that connects blue-collar and gig workers with employers across various industries, including logistics, delivery, retail, and now expanding into warehousing, manufacturing, and commercial driving. Key employer partners of Vahan.ai include Zepto, Swiggy, Blinkit, and Zomato.
The investment will primarily be used to enhance Vahan's core technology stack. This includes upgrading the AI bot's multilingual capabilities in eight Indian languages and scaling documentation automation features.
Vahan.ai was founded by Madhav Krishna in 2019 and emerged from Y Combinator. Initially, the startup offered skilling services before entering the recruitment space. Last year, it raised $10 million (or about Rs 83 crore) in a Series B funding round, which was led by billionaire Vinod Khosla's Khosla Ventures.
The deal also marks a pivotal expansion for Vahan.ai, as it includes the acquisition of L.earn, the digital upskilling platform of GoodWorker. This acquisition will integrate vernacular, mobile-first skilling content into the job discovery process, indeed enhancing Vahan.ai's services.
With over 1 million workers placed across more than 920 Indian cities and facilitating 40,000 job placements per month, Vahan.ai is now targeting new verticals and deepening its reach in Tier 2 and Tier 3 cities. The startup also plans to pursue international markets in Southeast Asia and the MENA region.
Vahan.ai reported a revenue of Rs 26.9 crore ($3.25 million) in FY24. With the recent investment and acquisition, the company is well-positioned to achieve its goal of enabling 100,000 job placements per month, revolutionising the blue-collar and gig worker recruitment landscape.
