Online beauty services provider BigStylist has raised $1.2 Mn (INR 8 Cr) in a fresh funding round led by Info Edge. As per BSE filings, the amount has been invested via compulsorily convertible debentures (CCD).
In September 2016, BigStylist secured $900K from Delhi-based Info Edge. This move increases Info Edge’s stake in the startup to around 49.37%, from the earlier 39%.
With the newly-secured funding, BigStylist is looking to set up shop in Delhi NCR and is also hoping to break even in the two cities it currently operates in, Mumbai and Pune.
BigStylist: From 2015 To Now
Launched in July 2015 by IIT Kharagpur graduates Richa Singh, Chinmaya Sharma, and Anurag Srivastava, Bigstylist is an on-demand beauty and wellness services marketplace registered under Green Leaves Consumer Services Pvt. Ltd.
Currently operating in all localities within Pune and Mumbai, the company offers customers access to experienced stylists and beauticians through the website, the Android app, as well as WhatsApp. Users can place orders and also book at-home appointments with beauty experts and stylists.
BigStylist promises efficient and fast delivery of services in less than one hour. To vet the professionals on its platform, the company follows a proprietary selection and interview methodology that ensures a low-cost and scalable model without physical investments in any academies or training institutes.