Local Service Marketplaces are Investors’ New Obsession; 6 Such Startups That Have Recently Raised Funds

Image Source: stvhsaz

Image Source: stvhsaz

From the last few weeks, there has been a lot of investment action happening among online home services startups in India. These startups which are using technology to aggregate service providers like handymen, domestic helps, babysitters and so on, giving a convenient platform to the consumers to find and engage them as per their need, are coming across as a good business proposition to the investors. Here is a quick roundup of such firms which have recently raised funding to fuel their growth strategy.

TaskBob

Founded in 2014, Mumbai-based on-demand home and services startup, TaskBob offers instant home services by sending a serviceman to people doorstep to fix their household appliances. It has raised $1.2 million led by Orios Venture Partners with participation from Mayfield Fund in seed round. Currently, the firm operational in Powai (suburb of Mumbai)  and will use the raised capital for expanding to other parts of the city.

UrbanClap

Launched in October 2014, UrbanClap is a platform which connects service professionals to the customers. To access these services, the user must enter his/her needs on the company’s website or its Android app, and the platform will bring the right professionals to them. It has secured $1.6 million in seed round from SAIF Partners, Accel Partners, Kunal Bahl and Rohit Bansal. The company which currently operates in the Delhi-NCR region plans to utilize the funds in strengthening its technology and team as well as to scale the platform to more service categories across cities.

LocalOye

LocalOye’s platform uses a recommendation engine to connect customers with service professionals within a few minutes. Both customers and merchants (service providers) are connected to each other through their own apps. The app can also be used to review, accept, engage and schedule bookings. Founded in 2013, the company has raised $5 million in Series A round from Tiger Global Management and Lightspeed Venture Partners. It will use the funds to scale up nationwide and expand to more service categories, and also to invest in technology and building the team.

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Qyk

Founded in October 2014, Qyk is a mobile platform which enables customers to hire service providers and professionals near their area. This includes service providers other than ‘home services’. It offers the customer, options tailored to his personalized needs by enabling comparisons and competitive quotes. It has raised angel funding from a group of angel investors including early investors of Ola, Housing and Delhivery, and Zishaan Hayath, Abhishek Goyal and Sahil Barua.

Near.in

Gurgaon-based services marketplace, Near.in was founded in July 2014. It has 2,200 service providers listed on its website. It covers a number of categories including health, home needs and wellness, currently operational in Gurgaon. To provide its services on mobile, the startup had also launched an app for iOS users, with an Android one under development. The company had secured $290,000 in seed round from Anupam Mittal of Shaadi.com, Manish Vij of SVG Media, Healthkart CEO Prashant Tandon and CTO Gaurav Agarwal and others. Near.in has plans to launch its operations in Delhi-NCR by the end of this quarter.

FindYahan

Founded in 2013, FindYahan is a location based discovery platform that connects skilled individuals and home businesses to their target customers. It is a marketplace where anyone can register for free and look for the reliable and verified service providers in their area. The company had raised angel funding led by Karan Bajwa (MD, Microsoft India) along with Parvesh Bareja (Director, HeliosPacks), Sunjay Kapur (MD, Sona Koyo Steering), and Amanpreet Bajaj (Ex Cofounder, Letsbuy.com) also participating in the round. The amount of funding is still undisclosed. The firm is expected to use the raised funding towards technology, team building and scaling up. Also, it has launched an Android application that provides a way to find and hire the service providers.

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  • Lomesh Dutta

    Thanks Sujata for the coverage. The information on Near.in is a little outdated: We have 3500+ engaged suppliers and are already live in Delhi and Gurgaon. Our Android app for merchants and users is also live on the play store. Also we launched in Dec 2014.