Gruhas Invests in Weavings Manpower
Mumbai, 14th August 2024 – Gruhas, the investment firm co-founded by Nikhil Kamath and Abhijeet Pai, has announced a significant strategic investment in Weavings Manpower Solutions, a leading provider of staffing and workforce solutions in India. This marks a key milestone in Gruhas’ mission to support and scale innovative businesses across the country.
Since its inception in 2011, WEAVINGS has enriched the lives of more than 2 lakh associates, it is rapidly emerging as a leading force in blue-collar staffing across India. With a presence in 100+ cities and 22 states, Weavings has spent 12 years building a robust ecosystem for blue-collar workers, ensuring fair employment and social security benefits. The investment will enable Weavings to pursue a 4x growth trajectory over the next five years. The funds will be used to enhance Weavings’ technology platform, expand into new geographies, and introduce specialized staffing solutions across various industry sectors. This capital infusion will strengthen the company’s financial foundation and bolster its operational capabilities.
Weavings’ mission is to manage the entire talent lifecycle for frontline workers, offering a responsive and agile approach to meet fluctuating workforce demands. As India’s economy traverses its goal to reach $7 trillion, driven by sectors like e-commerce, BFSI, retail, and logistics, Weavings is well-positioned to deliver high-quality, organised, end-to-end staffing solutions to these growing sectors.
Leveraging its proprietary digital platform, Weavings ensures predictability and transparency in workforce management, enhancing speed and compliance. Their commitment to the highest levels of compliance and quality reassures clients of their reliability and effectiveness.
Ashish Talwar, Managing Director at Weavings said, “This investment will support Weavings in expanding its avenues into newer sectors as well as building long-term collaborations and establishing strategic partnerships. Furthermore, we aim to leverage Gruhas’ valuable experience, expertise, and industry connections to drive innovation, scale our operations, and achieve our strategic goals, which will solidify our position as the fastest-growing staffing company in the country.”
Abhijeet Pai from Gruhas mentioned, “India’s economic engine runs on the sweat of its blue-collar workforce. WEAVINGS is uniquely positioned to address this critical need by leveraging technology to bridge the gap between the blue-collar workforce and booming sectors like manufacturing, warehouse management, and logistics. Their tech-driven solutions not only address compliance but also empower these workers, improving their employability and career prospects. This, in turn, fuels India’s growth and creates a win-win situation for both businesses and the workforce.”
Krishna Shete, Shareholders Representative at Planet Group added, “India’s vast talent pool has the potential to drive substantial economic growth across various sectors. At Weavings, our mission is to harness this potential and contribute to the nation’s economic progress. Our partnership with Gruhas is not just about capital infusion; it brings a wealth of fresh perspectives and innovative thinking. This collaboration empowers us to connect with the right companies and professionals, fostering a dynamic ecosystem. We are excited about the possibilities this partnership holds and are committed to a strong, long-term relationship with Gruhas.”
About Gruhas
Gruhas is an investment firm co-founded by Nikhil Kamath and Abhijeet Pai, known for its strategic investments in high-growth companies across various sectors. Gruhas focuses on supporting businesses that drive innovation, create employment opportunities, and contribute to the economic development of India.
About Weavings Manpower Solutions
Weavings, a Planet Group venture, offers a comprehensive suite of people management solutions which are diligently designed to offer a competitive edge to the client’s business. It is one of the rapidly growing staffing agencies in India which provides end-to-end HR solutions like Contract Staffing, Permanent Recruitment, Statutory Compliance Management, Human Resources Information System (HRIS) Services, Master Vendor Services, Front-line bulk- hiring, and Payroll Management Services to medium and large-scale organizations in India operating in different industrial domains. With an experience of more than 12 years, Weavings is rated one of the Best Payroll Service Providers in 2020 and is a TRACE & ISO/IEC 27001:2013 Certified company.
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