After raising collection D round, domestic carrier marketplace Urbanclap has raised Rs 1.6 crore from Flipkart’s Group CEO – Kalyan Krishnamurthy. This is not the first example where Krishnamurthy has invested in an increase level startup.
Previously, Krishnamurthy invested in business tools and system market Moglix, health and fitness tech enterprise Credit, Goodyear, Unacademy and NestAway.
According to RoC submitting with MCA, the percentage rate for the spherical stood at Rs fifty-one,552 which is appreciably decreased from its Series D round whilst its percentage changed into valued Rs sixty-eight,737 every. At that time it becomes worth approximately $442 million.
Backed via Accel, Ratan Tata, SAIF Partners, Bessemer Venture Partners, Urbanclap claims 15,000 provider experts throughout 8 towns within the united states as well as Dubai.
So far, the Gurugram-based totally employer had raised $a hundred and ten million in total investment. A gift, the biggest segment on UrbanClap is splendor offerings, accompanied by appliance repairs, and house cleaning services.
The Abhiraj Bhal-led firm is the best startup to attract a consistent flow of funding and make a dent in home provider area. More than a dozen corporations needed to close shop as a result of a lack of investor’s interest and poor unit economics.
Existing wide variety 2 player – Amazon-subsidized Housejoy additionally has been struggling and cutting down operations.
As comparable as other increase and late-degree patron Internet companies, losses of UrbanClap are better than the sales of the enterprise.
However, it had a progressed FY18 as its sales took a three.2X bounce in FY18 to Rs fifty-three.48 crore. The agency additionally decreased losses with the aid of about 16 according to cent to Rs fifty-six.49 crore in FY18 from Rs 67.18 crore determine in the preceding financial.