Mumbai-based home utility service provider, Taskbob, has secured $4.5 Mn (INR 28 Cr.) in its Series A round of funding led by IvyCap Ventures. It also saw participation from existing investors, Orios, and Mayfield. The funding will help Taskbob boost its growth and increase dominance in the hyperlocal services sector.
As per the deal, Norbert Fernandes, co-founder and principal at IvyCap, will join the board of Crenovative Ideas Pvt. Ltd. on behalf of IvyCap Ventures.
Taskbob is run by Crenovative Ideas Pvt. Ltd, and was started in 2014 by IIT graduates Aseem Khare, Abhiroop Medhekar, Ajay Bhatt and Amit Chahalia.
The mobile-only startup offers instant home services by sending verified and skilled professional serviceman at the customer’s doorstep to fix household appliances such as AC, washing machine, computer and refrigerator. It simplifies the entire process, from finding a serviceman to ensuring the service, with the help of a user-friendly mobile app interface.
The firm takes referrals of friends and fellow users to choose the best servicemen in the particular locality. However, the startup also claims to refund the money in case the customer is not satisfied with the service.
Currently, it has about 1 lakh users, in whole of Mumbai, who avail their services; and gets booking on a scale of 800 to 1000 on daily basis.
Aseem Khare, CEO of Taskbob, said, “Fulfilment, not discovery, is the real problem in India’s local services space. With this in mind, we have been more focussed on supply and fulfilment issues rather than plain demand aggregation. Our goal has always been to build a service that provides quality and is absolutely trustworthy.”
The raised capital will help Taskbob in expanding its presence in multiple markets, focus on product growth and innovation & evaluate strategic acquisition opportunities.
The startup aims to scale to 10,000 order per day in the next 18 months. Besides, they also plan to replicate their proven “Mumbai model” in the top 4-5 cities and dominate those markets as well.
Last year, in November, Taskbob acquired Zepper, another startup in the same domain, for an undisclosed amount, to mark its entry into the Bangalore market.
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