Bangalore-based home services startup, Gapoon has raised about $150K (INR 1.2 Cr) in an angel round of funding from a group of investors, including entrepreneur and investor, Chandrashekar Tallapragada, reported Mint.
Pankaj Kapoor, a director at one of the world’s leading investment banks, also participated in this round.
It operates an on-demand as well as subscription-based model for services such as home cleaning, electricians, appliance maintenance, plumbing, pest control and carpentry. There are over 1500 people who have signed up for Gapoon’s subscription packages.
Gapoon will use the raised capital to grow its subscription-based services, which offer the firm a steady revenue and reduce customer acquisition costs.
“This funding round gives us further strength to expand our service offerings to the entire city of Bangalore in a stronger manner. We intend to focus on growing our subscription-based model. We are also working on service portfolio expansion. We are confident of capturing the market across the country in coming months. We also hope to expand to new cities by the end of 2016,” said Apoorva Mishra, CEO at Gapoon.