Mumbai-based on-demand home services platform, Zimmber which is backed by Rejuvenate Solutions, is in final stages to secure $12 million from three venture capital firms. The investors’ names are still undisclosed by the company. A company spokesperson told iamWire that, the capital will takes place across two tranches, with the first tranche of $2 million that is expected to be closed with in this month.
The raised funding will be used for technology improvement, marketing, and to expand its footprints across the country. Currently, the firm has its presence in Mumbai, Pune and Gurgaon and is looking forward to be present in 37 cities across the country by early 2016. In 2014, the venture had raised about $500,000 from a group of angel investors including Jabong India head, Praveen Sinha, and an executive from Godrej Group.
Launched in 2014 by Co-founders Amit kumar, Gaurav Shrivastava, and Anubhab Goel, the startup offers on-demand home services, particularly on mobile. It claims to have 400 service providers on its platform, lets users to book home services like plumbing, pest control, laundry, electrician, carpenter, painting and home cleaning etc. The firm had launched its mobile app earlier in January, which is available for Android users.
Hyperlocal marketplace is growing at an explosive rate in India with players like LocalOye, DoorMint, Lazylad, Jugnoo, Near.in, TaskBob, UrbanClap, and Qyk among others. In April, TaskBob raised $1.2 million led by Orios Venture Partners with participation from Mayfield Fund in seed round. Also, in the same month, UrbanClap secured $1.6 million in seed round from SAIF Partners, Accel Partners, Kunal Bahl and Rohit Bansal and LocalOye received $5 million in Series A round from Tiger Global Management and Lightspeed Venture Partners.
In March, Qyk 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. Gurgaon-based Near.in 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 in January this year.
In February, Findyahan raised angel funding led by Karan Bajwa (MD, Microsoft India). Mumbai-based on-demand hyper local consumer services platform DoorMint raised angel funding led by Powai Lake Ventures two months back. Hyperlocal mobile commerce startup LazyLad secured seed money of $100,000 along with the induction into GHV. Another hyperlocal on-demand multi-service provider Jugnoo closed Series A round of $5 million led by Snow Leopard with participation from Paytm earlier this month.