Thursday, June 13, 2024
Outlook India
Outlook Business

ACT Partners With Karya To Create Tech-Driven Livelihood Opportunities, Grants Rs 4 Crore

Karya is an app-based platform that allocates simplified AI/ML data-training micro-tasks to individuals, enabling them to generate income through Karya Earn.

ACT Partners With Karya To Create Tech-Driven Livelihood Opportunities, Grants Rs 4 Crore
POSTED ON January 30, 2024 1:47 PM

Venture philanthropy organisation, ACT has announced a grant of Rs 4 crore to Karya, a start-up that leverages technology as a means to provide livelihood and upskilling opportunities to disadvantaged communities.  

The venture firm said that the motive behind the grant is to bring 100 million people out of poverty by building ethical data collection methods that fairly compensate its workers, most of whom are primarily from rural India.  

Reacting to the grant, Aakanksha Gulati, director at ACT said, “With our first joint grant from ACT For Education and ACT For Women verticals, we’re excited to support Karya in their journey to onboard and help accelerate national as well as international demand for their data work and generate insights on the impact of this model on capacity building and income generation for individuals across rural India, with an emphasis on gender-specific nuances.” 

As per UNDP’s Multidimensional Poverty Index, 200 million people in India live in poverty. However, with the massive growth of AI across businesses, there is a huge demand for data to train AI/ML models. Karya is leveraging this opportunity by providing simplified data work to rural Indians through its micro tasking platform, the Karya App, the statement added.  

The start-up's solution democratises digital data work, offering the potential for data collectors from underserved communities to earn up to $1500 in supplementary income within a year, fostering social mobility. 

“As an organisation committed to using technology to bring dignified, digital work opportunities to our communities, we are heartened to be a part of the ACT community and are deeply grateful for their support," said Manu Chopra, co-founder of Karya.  

Since its establishment in 2021, the start-up has positively affected over 32,000 individuals, with 60 per cent being women, spanning across 25+ states/UTs.  

  • Related Articles

    B2B Arzooo offers a technology platform to help retailers in the consumer electronics space to digitise their businesses

    B2B Arzooo Secures Funding Boost In Extended Series B Round

    The news comes after reports of Prosus NV, a Netherlands-based global investment firm, sent a notice to Ranjan Pai

    Ranjan Pai Considering Additional Investment of $50-60 Million To Fuel Growth of  Aakash Institute: Report

    BLS E-Services which offers business correspondence services to major banks proposes to utilise net proceeds from the fresh issue to strengthen its technology infrastructure, among others.

    BLS E-Services Collects Rs 126 Crore From Anchor Investors Ahead Of IPO