Mumbai based home services startup, Taskbob, has raised Rs. 28 crores in Series A round of funding. The round was led by IvyCap Ventures with participation from existing investors, Orios and Mayfield. The startup plans to use the funding to boost growth and expand to other cities. Aseem Khare, CEO of Taskbob , has said in a statement-
“What we have done in Mumbai is understanding the back end and creating a playbook. The idea is to replicate the playbook across top four to five cities in one and half years and reach to 10,000 orders per day. In Mumbai, we want to be profitable in the unit level in the next one and a half years,”
Norbert Fernandes, co-founder and principal at IvyCap, will shortly be joining the board of Crenovative Ideas Pvt. Ltd. (Taskbob) on behalf of IvyCap Ventures. This is IvyCap’s first investment in the home services space. Vikram Gupta, founder and Managing Partner of IvyCap Ventures said:
“We see them (Taskbob) as becoming number one in this market. This is a business where you enter houses of customers, if you mess it up, you do not get second chance. It requires a lot of preparation, training and right people. They have done their backend properly, in terms of technology, customer acquisition and analytics,”
Taskbob, recently added more services like maids on demand and ‘at-home salon services’ branded as Myrra. The startup basically provides pre-screened servicemen across a range of home services like cleaning, handymen services and drivers. The beauty services has been receiving orders from 40 percent repeat customers. The startup fulfills 800-1000 overall orders per day in Mumbai.
The startup is planning to enter Bengaluru in another month and a half and also acquired Zepper Services Pvt Ltd as was reported by Knowstartup.com on Nov last year. The startup had raised $1.2 million (Rs. 7.5 crore) in seed funding from Orios Venture Partners and Mayfield Fund in April 2015.
Rehan Yar Khan, founder of Orios, which was the first VC firm to back the company one year ago, said-
“In a market where funding will be tight going, startups delivering quality service and not just volumes will matter which will be Taskbob’s differentiator,”