After elevating collection D spherical, home provider marketplace Urbanclap has raised Rs 1.6 crore from Flipkart’s Group CEO – Kalyan Krishnamurthy. This isn’t always the first instance where Krishnamurthy has invested in a boom-stage startup.
Previously, Krishnamurthy invested in the industrial equipment and device marketplace Moglix, health and health tech employer Curefit, Goodyear, Unacademy, and NestAway.
According to RoC submitting with MCA, the percentage fee for the spherical stood at Rs fifty-one,552 that extensively decreases from its Series D spherical. At the same time, its share became valued at Rs sixty-eight,737 each. At that point, it became valued at approximately $442 million.
Backed via Accel, Ratan Tata, SAIF Partners, Bessemer Venture Partners, Urbanclap claims 15,000 carrier specialists throughout eight towns inside the united states of America in addition to Dubai.
So a long way, the Gurugram-primarily based corporation had raised $110 million in overall investment. The most crucial section on UrbanClap is splendor offerings, accompanied using appliance repairs and house cleaning services.
The Abhiraj Bhal-led company is the only startup to draw a consistent waft of funding and make a dent in the domestic provider area. More than a dozen corporations needed to close save thanks to lack of investor’s hobbies and bad unit economics.
Existing range 2 participant – Amazon-subsidized Housejoy additionally has been struggling and scaling down operations.
Similar to further increase and overdue-level customer Internet corporations, losses of UrbanClap are higher than the corporation’s sales.