Taskbob, a Mumbai, India-based home services company, raised Rs 28 Crore (approx. USD$4.5m) in Series A round of funding.
The round was led by IvyCap Ventures with participation from existing investors Orios and Mayfield. In conjunction with Norbert Fernandes, Co-Founder and Principal, will join the board of Crenovative Ideas Pvt. Ltd. on behalf of IvyCap Ventures.
The company intends to use the funds to expand in multiple markets, focus on product growth and innovation and evaluate strategic acquisition opportunities.
Run by Crenovative Ideas Pvt. Ltd. and led by co-founders Aseem Khare, CEO, Abhiroop Medhekar, Ajay Bhatt & Amit Chahalia, who are alumni of IIT Bombay and IIM Ahmedabad (ex-Nomura, ex-McKinsey), Taskbob provides pre-screened service experts across a range of home services like cleaning, handymen services & drivers. They have recently added maids on demand and at-home salon services under the brand-name Myrra, and acquired Zepper.in, a Bangalore based competitor.
Over next 18 months, the company aims to scale to 10,000 orders per day and achieve profitability at a unit level in Mumbai and then plans to replicate this “Mumbai model” in the top 4-5 cities.