Yuvraj Singh’s investment company YouWeCan Ventures has made its first investment in Dubai-based mobile marketplace for beauty and wellness segment, Vyomo. There are more funds and investors who participated in the round and the deal amount is still undisclosed.
Vyomo plans to list about 5,000 spas and saloons in Delhi-NCR, Mumbai, Bengaluru, Chennai and Dubai, and plans to bring more than one million stylists on the platform by 2017. For customers, Vyomo acts like an on-the-go search, discover, book, pay and rate platform. One can search salons and spas based on current location, compare prices, read customer reviews and instantly book the service.
For beauty salons and spas, it acts like a SAAS based end to end salon management software that grows and simplifies their business by providing increased traffic, CRM, ERP, EPOS, Performance Management, Booking Management and Online Presence. The startup was founded by London Business School graduates Abhinav Khare and Poonam Marwah.
Vyomo competes with Mumbai-based Purplle and Nykka. Beauty and skincare e-retailer, Purplle.com had raised an undisclosed amount of funding from IvyCap Ventures in January and Nykka raised an undisclosed amount in a fresh round led by an unknown business family in June 2014.
Yuvraj Singh had launched YouWeCan Ventures earlier this month to invest in and support emerging Indian startups. Through the fund, he plans to invest about Rs 50 crore in start-ups across sectors including healthcare, sports products, services and fashion, travel and tourism, hospitality and e-commerce over the period of 3-5 years. The fund is expected to raise about Rs 300 crore from other investors during this period.