15th March 2016, Bengaluru: Gapoon, a Bengaluru-based startup offering home maintenance services in both on-demand and subscription model, has secured funding of INR 1.2 crore from a group of investors, including entrepreneur and investor, Mr. Chandrashekar Tallapragada.
Gapoon was founded in 2015 by four IIT-graduates, Mr. Apoorva Mishra, Ms. Ankita Asai, Mr. Ankit Bindal and Mr. Nikhil Gupta, with the aim of providing a one-click, one-stop solution for all home maintenance requirements. The company received its first found of angel funding in July 2015.
Gapoon intends to use the new funds to consolidate their presence in Bengaluru, particularly in its subscription-based model.
The company launched subscription-based package model in December 2015, and became the only home-maintenance service provider in the city to offer both on-demand services and packages. The service has seen an exponential growth in the past quarter, with over 1500 people signing up for Gapoon’s subscription packages.
Mr. Chandrasekhar Tallapragada said, ”With multiple start-ups emerging in the service industry, Gapoon shows a much more promising solution by pioneering subscription based model & focusing on the service quality. This funding round will help them consolidate their position. We are really impressed by the team’s ideology, perseverance & vision for the industry. When everyone is focusing on expansion, big news & funding, team Gapoon’s meticulous approach towards operations, service delivery with a long-term vision for the service industry is incredible. ”
Mr. Tallapragada, a veteran in the field of telecommunication services, has mentored several startups and companies earlier.
Mr. Apoorva Mishra, Founder & CEO, Gapoon said, “This funding round gives us further strength to expand our service offerings to the entire city of Bengaluru in a stronger manner. We intend to focus on growing our subscription-based model. We are also working on service portfolio expansion. We are confident to capture the market across the country in coming months. We also hope to expand to new cities by the end of 2016.”
Mr. Pankaj Kapoor, a director at one of the world’s leading investment banks, also participated in this round.