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 increased-level startup. Previously, Krishnamurthy invested in business tools, and system markets 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. In contrast, its percentage changed into valued Rs sixty-eight,737 every. At that time, it became worth approximately $442 million.
Backed via Accel, Ratan Tata, SAIF Partners, and Bessemer Venture Partners, Urbanclap claims 15,000 provider experts throughout eight United States and Dubai towns. So far, the Gurugram-based employer has raised $ hundred 10 million in total investment. A gift, the most significant 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 the home provider area. More than a dozen corporations needed to close shop due to a lack of investor interest and poor unit economics.
With the existing variety of players – Amazon-subsidized Housejoy has been struggling and cutting down operations. Compared to other increased and late-degree patron Internet companies, the losses of UrbanClap are better than the sales of the enterprise. However, it progressed FY18 as its sales took a three.2X bounce in FY18 to Rs fifty-three. 48 crore. The agency additionally decreased losses by about 16 cents to Rs fifty-six. 49 crore in FY18 from Rs 67.18 crore determined in the preceding financial.