Housejoy raises Rs150 crore in series B funding led by Amazon
The funds will be used for strategic acquisitions, solve operational issues, enhance technological capabilities and build the team
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Bengaluru: On-demand home services start-up Housejoy.in has raised Rs.150 crore in a series B funding led by e-commerce major Amazon India, Vertex Ventures, Qualcomm Ventures and Ru-Net Technology partners and existing investor Matrix partners.
The funds will be used for strategic acquisitions, solve operational issues, enhance technological capabilities and build the team, the company said in a statement.
The investment was first reported by the Times of India.
Founded in January 2015 by Arjun Kumar and Sunil Goel, Housejoy, run by Sarvaloka Services On Call Pvt. Ltd, raised $4 million from Matrix Partners in June this year. Housejoy helps consumers book plumbers, electricians, beauticians and others online.
The entry of Amazon further bolsters the on-demand home services space which already has bluechip investors like Tiger Global, Lightspeed Ventures, SAIF Partners, Accel Partners, Bessemer Venture Partners, Omidyar Networks and IDG Ventures, among others.
“This round is a great validation of our growth, team strength and ability to execute in these short nine months. We will build our team aggressively and are open to partner with companies in the ecosystem to deliver customer delight,” Saran Chatterjee, chief executive officer at Housejoy, said in a statement.
The Bengaluru-based company aims to have 50,000 service providers and serve 100,000 orders per day on its platform. It currently fulfils 4,000 orders per day and have partnerships with 10,000 service providers across cities like Bengaluru, Hyderabad, Pune, Mumbai and Chennai.
“Housejoy seeks to provide customers with a differentiated experience in shopping for home services. This aligns with our mission in India—to transform the way India buys and sells,” Amit Agarwal, vice-president and country manager, Amazon India, said in a statement.
Services marketplace start-up UrbanClap Technologies Pvt. Ltd raised $25 million in November 2015, taking its total fund-raising to over $36 million and making it the most well-funded company in the space.
There are over 50 start-ups in the home services space in India providing electricians, plumbers, fitness trainers, photographers and even wedding planners, among other services, in both on-demand and the marketplace model, according to start-up tracker firm Tracxn.
Saran says Housejoy will aggressively expand the service providing categories and cities to tap into existing latent demand in the on-demand home services space.
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