On-demand home services marketplace Housejoy has raised Rs 150 crore in a Series B round of funding from a clutch of investors led by e-commerce giant Amazon India, the company announced recently.
Other investors who participated in this round included Temasek’s venture arm Vertex Ventures, Qualcomm and Ru-Net Technology Partners along with Housejoy’s existing backer Matrix Partners.
The funds will be used for strategic acquisitions, solve operational issues, enhance technological capabilities and build the team.
“This round is a great validation of our growth, team strength and ability to execute in these short nine months. We will build our team aggressively and are open to partner with companies in the ecosystem to deliver customer delight,” CEO Housejoy, Saran Chatterjee said in a statement
Housejoy has moved to a hyperlocal model, using specific hubs to cater to orders originating from specific areas in the city. The Amazon-backed platform has also moved to a mixed model where it will serve certain categories using employees on its payroll and the rest on a marketplace model.
The Bangalore-based startup offers a platform to find and book local service providers for maintenance and home repairs to plumbing, electrical, computer repairs and also specialised services in beauty and in-house bridal make-up. It currently operates in nine cities and claims to service 4,000 orders everyday.
With the fund infusion, the firm also aims to be present in more than 10 cities and bring 50,000 service providers on its platform to cater to 100,000 order per day.
In June this year, the company had raised USD4 million in Series A funding from Matrix Partners.
According to startup industry tracker Tracxn, the home services industry in India saw about 69 startups founded in 2014 alone. Moreover, the sector has witnessed influx of funds from angel investors and institutional investors like SAIF Partners and Accel Partners.
Housejoy’s competitors include LocalOye, UrbanClap, Qyk, BookMeIn, among several others.
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