Unilazer invests Rs 15 cr in Timesaverz

On-demand home services startup Timesaverz today said it has received a funding of Rs 15 crore from Ronnie Screwvala's Unilazer Ventures.
The Series A funding comes on the back of the high potential that investors see in the online home services space in India, Timesaverz said in a statement.
Timesaverz, which helps users hire locally-verified and curated service providers through its platform, will allocate the raised capital to support its expansion into new markets and services, it added.
Founded by Debadutta Upadhyaya and Lovnish Bhatia, Timesaverz now operates in five key areas -- Mumbai, Delhi-NCR, Bangalore, Hyderabad and Pune -- and has witnessed a 100 per cent quarter on quarter growth.

"On-demand home services comprise the new frontier of e-commerce where service is now a product. Large companies are going to be created in this space and we will work closely with the founders to make Timesaverz a leader in an existing USD 5 billion industry with immense growth potential," Screwvala said.
The decision to back the company was driven by the operational efficiency demonstrated by an experienced team and the social impact it has created among the unorganised but skilled service partners, he added.
"Timesaverz started as a two-hub operational company in Mumbai 2 years ago and now manages fulfilment through over 1,000 Timesaverz partner network across five key metros. It has been witnessing a 3X growth in visitations and 80 per cent of the traffic is through mobile. The recent round of funding is aimed at bolstering our technology solutions and strengthening our product portfolio," Upadhyaya, co-founder and CEO of Timesaverz said.