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On Demand Services Provider 99PerHour Secures $300K Funding

On Demand Services Provider 99PerHour Secures $300K Funding

On-demand hyperlocal services provider, 99PerHour has secured Seed funding of $300K from a US-based angel investor, V Aanand R.

The company plans to utilise these funds to expand its service categories from 18 to 100 across – utility, professional, and personnel services.

“Hourly paid services is a new concept to India and within a short span we had completed 20K orders in Hyderabad alone with 98% positive feedback. We foresee a huge potential for our model across the globe. Presently, we are building vendors’ database in Singapore, Virginia State (U.S.) and Santiago simultaneously, and would soon begin operations,” said an official spokesperson of the company.

Launched in 2014, Hyderabad-based 99PerHour delivers on demand services at hourly rates from licensed and vetted vendors to homes, hotels, workplaces, and events in 30-minutes. Users pay at prefixed hourly rates starting from INR 99/hour. The company also boasts of 3000 vendors on its platform and currently offers 18 services in Hyderabad.

Indian Hyperlocal market has been largely driven by a rising number of startups and consumers (who prefer on-demand delivery). Comparing figures with 2014 data, the Indian hyperlocal market revenues grew at a rate of 41% in 2015. Inc42 report further reveals that market will grow at a considerable CAGR rate, thus projected to exceed $343.6 Mn (INR 2,306 Cr) by 2020.

In May 2016, hyperlocal services major Quikr acquired in-home beauty service provider, Salosa. Later in August 2016, it acquired on-demand beauty, wellness, and fitness app ZapLuk. In September 2016, AtHomeDiva acquired Bengaluru-based mobile marketplace for beauty services, StayGlad.

They compete with startups like Timesaverz, Doormint, UrbanClap etc.