Housejoy has announced a completion of INR 150 crores in series B round of funding from a consortium of investors. 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.
The funds will be used to grow and innovate the category with better enhanced technology to be used to help solve deep operational issues; strategic acquisitions, partnerships and to build the team. The company aims to be present in more than 10 cities and have 50,000 service providers on the platform to serve 100,000 jobs per day.
Commenting on the fund raise, Saran Chatterjee, CEO at Housejoy said, “This is a significant milestone for Housejoy in its journey to become the most trusted home services brand in India. This round is a great validation of our growth, team strength and ability to execute in these short 9 months. We will be build out our team aggressively and are open to partner with companies in the ecosystem to deliver customer delight”
“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. We are excited to back the housejoy team that shares our obsession for inventing on behalf of customers with a long term focus” said Amit Agarwal, Vice President and Country Manager, Amazon India.
“The home services economy is set to inflect this year. Housejoy has established itself as an early leader in a hyper-competitive landscape by owning the end-to-end customer experience. We welcome Amazon, Vertex, Qualcomm and ruNet to the Housejoy partnership”, said Vikram Vaidyanathan, MD Matrix India.
Ben Mathias, MD and India Head, Vertex Ventures also comments, “Vertex’s strategy is to invest in high-growth technology companies across Asian emerging markets, particularly those that have achieved leadership in their respective categories. Of all the companies we had seen in the home-services space, Housejoy was clearly the best in terms of technology, operations and market adoption. We are excited to partner with Saran, Sunil and Arjun in this journey.”
Further, Sunil Goel Co-founder of Housejoy said, “Our new investment partners open up many new possibilities for market expansion, introduction to new partnerships and best practices in running a sustainable business. We look forward to the next stage of growth.”
Arjun Kumar Cofounder of Housejoy said, “This is a culmination of one year of our hard work. Could not be more excited about the journey ahead especially with the new partners coming on board”
Launched this January, Housejoy has been growing at a rapid pace on a month-on-month basis and is currently fulfilling more than 4000 orders a day. They have partnered with more than 10,000 service providers across eleven cities on its platform, and have expanded to Chandigarh this month.