 "Amazon leads Rs 150 crore investment in home services firm Housejoy")
Bengaluru-based on-demand home services provider Housejoy has announced completion of raising a Rs 150-crore Series-B funding from a consortium of investors, including Amazon and Qualcomm.
The round was led by Amazon and included new investors Vertex Ventures, Qualcomm and Ru-Net Technology Partners. Existing investors Matrix Partners India also participated. Housejoy had earlier raised $4 million funding in Series-A from Matrix Partners.
The funds will be used to grow and innovate the category with better technology to be used to help address operational issues, strategic acquisitions, partnerships and to build the team.
The firm connects customers with service providers of maintenance and home repairs to high quality plumbing, electrical services, home cleaning and computer repairs and specialised services in beauty and in-house bridal make-up.
Saran Chatterjee, CEO of Housejoy, said, “We will be building out our team aggressively and are open to partnering with companies in the ecosystem to deliver customer delight.”
Amit Agarwal, vice-president and country manager at Amazon India, said: “Housejoy seeks to provide customers with a differentiated experience in shopping for home services. This aligns with our mission in India - to transform the way India buys and sells.”
The home services economy is set to inflect this year, said Vikram Vaidyanathan, managing director, Matrix India.
The new investment partners open up the possibilities for market expansion, new partnerships and best practices in running a sustainable business, said the company officials.
Launched in January 2015, Housejoy is present in 11 cities including Bengaluru, Mumbai, Hyderabad, Chennai and Pune and clocks 4,000 orders a day. It has also partnered with 10,000 service providers across these cities.
The round was led by Amazon and included new investors Vertex Ventures, Qualcomm and Ru-Net Technology Partners. Existing investors Matrix Partners India also participated. Housejoy had earlier raised $4 million funding in Series-A from Matrix Partners.
The funds will be used to grow and innovate the category with better technology to be used to help address operational issues, strategic acquisitions, partnerships and to build the team.
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The company aims to be present in 10 cities and have 50,000 service providers on the platform to serve 100,000 jobs per day.
The firm connects customers with service providers of maintenance and home repairs to high quality plumbing, electrical services, home cleaning and computer repairs and specialised services in beauty and in-house bridal make-up.
Saran Chatterjee, CEO of Housejoy, said, “We will be building out our team aggressively and are open to partnering with companies in the ecosystem to deliver customer delight.”
Amit Agarwal, vice-president and country manager at Amazon India, said: “Housejoy seeks to provide customers with a differentiated experience in shopping for home services. This aligns with our mission in India - to transform the way India buys and sells.”
The home services economy is set to inflect this year, said Vikram Vaidyanathan, managing director, Matrix India.
The new investment partners open up the possibilities for market expansion, new partnerships and best practices in running a sustainable business, said the company officials.
Launched in January 2015, Housejoy is present in 11 cities including Bengaluru, Mumbai, Hyderabad, Chennai and Pune and clocks 4,000 orders a day. It has also partnered with 10,000 service providers across these cities.
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