The company behind mobile-only marketplace for household and personal service providers LocalOye.com, Imma Web Pvt Ltd has raised $5 million (Rs 31 crore) in Series A round of funding. The funding has been raised from Tiger Global Management and Lightspeed Venture Partners.
The company will use the funds to scale up nationwide and expand to more service categories, and also to invest in technology and building the team.
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.
The startup claims its product reduces the multiple calls that a consumer gets while looking for such a service through existing classifieds players. LocalOye was found in 2013 and is operational only in Mumbai as of now.