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Home Services Startup UrbanClap Raises $50 million In Fresh Funding, Seeks Expansion To Tier-Two Cities
UrbanClap CEO and co-founder Abhiraj Bhal at his Gurugram office. (Photo By Pradeep Gaur/Mint via Getty Images)
Gurugram-based home services startup, UrbanClap Technologies, has concluded its series D funding with US$ 50 million raised. The latest funding round was led by Steadview Capital Management and prior investor Vy Capital, reports Mint.
Excluding the fresh deal, the company has raised a total $60.7 million till now. It has had notable investors such as Bessemer Venture Partners, SAIF Partners, Accel and Ratan Tata. In last year’s funding round led by Vy Capital, the company had raised US$ 21 million.
UrbanClap allows its users to order professional services such as repair and maintenance, homecare and design, home cleaning, packers and movers, beauty and yoga, etc. directly to their homes. The company has one lakh such professionals, whom it calls ‘micro-entrepreneurs’, on its platform.
Currently, UrbanClap only operates in large metro cities, but it soon plans to expand its services to tier-two towns, starting with a scheduled launch in Chandigarh and Jaipur.
The company has already expanded abroad, with its first foreign market being the United Arab Emirates (UAE). Chief executive officer and co-founder of the company, Abhiraj Bhal stated that the company had seen phenomenal growth in the UAE, witnessing 100 per cent growth in just the last six months.
Co-founder Raghav Chandra revealed that in the future the company is targeting to grow the number of professionals on its platform to 10 lakh from current 1 lakh.
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