Arthum raises Rs 10 Cr in seed round led by Caret Capital

Arthum, a workforce management startup focused on contract labour, has raised Rs 10 crore (around $1.09 million) in a seed funding round led by Caret Capital.

Keynote Financial Services Limited and JS Global, also participated in this round.

The funds will be used to improve its technology, expand into new regions, and grow its financial product offerings. The company is also expanding operations to cities such as Dehradun, Chandigarh, Ludhiana, Jaipur and Ahmedabad, focusing on major industrial hubs.

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“Arthum is an operating system that connects every stakeholder in the contract labour ecosystem,” said Darpan Sharma, cofounder and CEO of Arthum. “This investment will help us strengthen our technology stack, expand geographically and unlock deeper financial inclusion through data-led credit and banking innovation.”

“By investing in Arthum, we aim to accelerate the formalisation of India’s 120 million-plus blue-collar workers and enable over 300,000 labour contractors to enter the formal economy,” said Pankaj Bansal, co-founder and managing partner, Caret Capital.

Founded in 2023 by Darpan Sharma and Vishal Mishra, the Gurugram-based Arthum is a platform that helps manage contract and blue-collar workforces. It brings together enterprises, labour contractors, and workers on a single digital system to handle attendance, payroll, contracts, compliance, and payments.

The company offers ERP-like tools such as geo-tagged attendance, automated payroll, digital payments, statutory compliance, and contract management. It currently supports more than 3 lakh labour contractors and has onboarded over 6 lakh workers, mainly across the Delhi NCR region.

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In addition to workforce management, Arthum runs an integrated neo-banking layer that uses verified worker data to provide access to banking, insurance, credit, and investment products.

Arthum has partnered with banks including Yes Bank, ICICI Bank, and IDFC, as well as over 15 NBFCs, to offer customised financial products for contractors and workers.

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