Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Qyk raises $1 mn in early-stage funding
BackBack

Qyk raises $1 mn in early-stage funding

Professional services listing company raises funds in a pre-Series A round of funding led by GrowX Ventures

Premium


Mumbai: Bengaluru-based professional services listing company Qyk Inc. said on Tuesday that it had raised $1 million in a pre-Series A (early-stage) round of funding led by GrowX Ventures, an early-stage investment firm. Existing seed investors—Tracxn Labs, Powai Lake Ventures and Sahil Barua (co-founder, Delhivery)—also participated in the round.

Qyk, founded in 2014 by Deepak Singhal, Sangharsh Boudhh, Shobhit Singhal and Anubhav Sahoo, is currently servicing markets in Bengaluru, Mumbai and Delhi.

“The traditional approach to finding service providers via listings is painful, and broken, and leaves both the consumer and the service provider dissatisfied. We’ve already seen this model see huge success in the US with Thumbtack, and believe that Qyk will be the one to make this succeed in India," said Ashish Taneja, managing director with GrowX Ventures.

Start-ups in the services listing space are attracting a lot of investment from investors. In April, Localoye.com raised $5 million from Tiger Global and Lightspeed India. UrbanClap raised $10 million in funding from SAIF Partners and Accel Partners in June. Sulekha.com raised 175 crore, its third round of funding, from Singapore’s sovereign wealth fund GIC Pte Ltd and Norwest Venture Partners in April.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 26 Aug 2015, 01:19 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie