Unitus Seed Fund along with Mumbai Angels and Bangalore Angels has made an undisclosed amount of investment in Bangalore based facility provider company, Jack On Block. Unitus Capital was the financial adviser and Impact Law Ventures was the legal adviser on this transaction.
Jack on Block offers handyman and maintenance services for homes, offices, apartment complexes or similar entities through their website. To access the services offered by Jack on Block, one need to sign up on the website, after that one can easily access the services by just clicking on the required options. Backend executive contacts back, and commits about the time to the customer after confirmation of the availability of the technician.
Launched in 2012, operationally it hires unskilled/semiskilled workers and provide train them to a full timer. These workers are assigned jobs sourced by the company. It is basically, bringing people from the informal unorganized sector to the organized sector and ensuring their access to retirement benefits, healthcare and health insurance, and life insurance.
It claims to service over 2,000 customers in Bangalore and has a staff of over 90 employees providing plumbing services, electrical repairs, painting and housekeeping services such as vacuuming, kitchen scrubbing, etc.
With around 93% of workforce in informal sector, India’s urban population is still facing shortage of vocational training. On the other side, urban India is facing a severe shortage of reliable plumbers, electricians, housekeepers and other handyman service providers. Their investors like Jack On Block because it has developed a business model that tackles both these issues effectively and profitably.