Flipkart CEO Kalyan Krishnamurthy invests in UrbanClap after investing on Moglix

Key Highlights

Flipkart CEO Kalyan Krishnamurthy invests Rs. 1.6 Crore in-home services startup UrbanClap.

The company has till now raised the sum amount of$100

UrbanClap revenue enhances by 225% and losses reduced by 14% in Financial Year 2018.

In 21^st era startups are regularly taking birth and perishing operations due to several issues. The major obstacle besides each startup is to raise funds for smooth and effective operations. Therefore several market behemoths and businessmen are investing as a group or in their individual capacity to assist innovative startups to bring a revolution in the technological world. Recently s Gurugram based home services startup UrbanClap after completing its series D funding round succeeds in raising Rs. 1.6 Crore from Flipkart CEO Kalyan Krishnamurthy. Krishnamurthy has also previously invested in several growth stage startups including Goodera, B2B industrial tools and equipment marketplace Moglix, NestAway, Curefit, and Unacademy. 

According to RoC filing with MCA, the share price for the round stood at Rs 51,552 which is significantly lower from its Series D round when its share was valued Rs 68,737 each. At series D round it was valued at about $442 million.

UrbanClap is backed by Bessemer Venture Partners, Ratan Tata, Accel and SAIF Partners. The firm claims to have 15,000 service professionals across 8 cities in the country as well as Dubai. The company has till now raised the sum amount of$100 Million. Currently, UrbanClap majorly provides beauty services, home cleaning services and repairing of appliances. Revenue of Company raised by 225% and losses reduced by 14% in Financial Year 2018.

UrbanClap came into action in 2014 and offers services related to event planning, cleaning, electric works, beauty services, and several others. Home service market declining regularly and there are several startups that have shut their shops because of financial glitches but UrbanClap is the one which is continuously attracting investors and enhancing its business aggressively.

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