Founded by IIT Kharagpur graduates, Richa Singh, Chinmaya Sharma and Anurag Srivastava, Mumbai-based beauty and wellness services marketplace startup, BigStylist.com, has raised $1 Million in pre-Series A round of funding from Info Edge.
BigStylist enables customers to place orders and get access to experienced stylists and beauticians.
Commenting on the fund-raise, Chinmaya said, “Initially, we push the utilitarian services to our customers as it is easier to initiate a trial there. Once the customer has experienced us for the basic services, we find it easier to upgrade them to value-added services as well as convert them towards repeat customers.” Currently, the team comprises of 25 people, and has around 200 beauticians in its network.
Recently, wellness services marketplace Gomalon acquired Bookmyspa for Rs12 Crore. In August, Vyomo had raised $2 million in Pre-series A round from Rocket Internet. Similarly, in August, The Home Salon, an on demand beauty and wellness service provider, raised a seed investment from VentureNursery’s members.
Regarding the market size and its potential, Richa added, “Just beauty and wellness services is a $5B industry in India growing at 20% year-on-year. Because of the traditional model that requires physical presence, single brands have not been able to scale very fast. A technology platform like ours has a more efficient cost-structure and is better positioned to grow rapidly.”Category Investments News