Home >companies >start-ups >UrbanClap raises funding from Ratan Tata

Bengaluru: UrbanClap Technologies Pvt. Ltd, which runs an online marketplace for home services, has raised an undisclosed amount of funding from Ratan Tata, chairman emeritus of Tata Sons Ltd. Tata made the investment in his personal capacity.

UrbanClap raised $25 million from Bessemer Venture Partners, Accel Partners and SAIF Partners in November, taking its total from three fund-raising rounds to $36.6 million, making it the most well-funded company in the space.

“Tata’s involvement is a vote of confidence to our platform and our efforts," said Varun Khaitan, co-founder at UrbanClap.

The investments will be become part of its overall capital pool, which includes its recent fund-raising round, to finance its expansion. Tata will not be joining the board of the company, but will have an advisory role.

Tata has invested around 20 crore in 10 start-ups in the past 18 months. He is reported to have invested in 16 companies so far but data is available only for 10. Tata invested 10 crore in Snapdeal (Jasper Infotech Pvt Ltd) and 10 lakh in online lingerie retailer Zivame (Actoserba Active Wholesale Pvt. Ltd), Mint reported on 2 October.

UrbanClap offers services including electricians, beauticians, plumbers, yoga trainers, wedding planners and photographers, among others, on its platform.

Subscribe to newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperLivemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated

Close
×
My Reads Logout