Hyderabad-based home improvement services platform, Renowala.com, has raised funding of an undisclosed amount from Logtally.
Renowala.com is expected to be launched by January, 2016 with operations in Hyderabad and Bangalore. Further, it will expand to other metros.
The startup aims to provide a stress free search for all home repairs and service providers, renovation and interiors consultation for residential and commercial properties, with onsite coordination. Renowala will bring together vendors, interior designers and home owners to facilitate an easy online interaction. The startup has ambitious plans to become a one-stop solution for all home improvement needs.
There are multiple players in the field who are eyeing the same market including HouseJoy, UrbanClap, TaskMitra, Mr. Right, FindYahan, Doormint, Qyk, UrbanPro, Zimber, etc.
According to Joshua Kumar, Founder and CEO of Renowala.com, the Indian Home Services industry is growing at 11%, annually. Despite the presence of multiple players, Joshua is of the opinion that there is a ‘huge unmet gap’ in the industry which still hasn’t been catered to.
A total no. of 69 startups were founded in the year 2014, according to startup industry tracker Tracxn. In 2015, number of startups in this space have garnered funding. In June, HouseJoy had raised $4 Mn in its Series A round from Matrix Partners. FindYahan had raised an undisclosed amount from Times Group’s Brand Capital in November. UrbanClap had also raised $10 Mn from SAIF & Accel Partners.