Legendary Indian cricketer Yuvraj Singh’s YouWeCan venture has debuted in the startup world by providing seed funds to a mobile phone-based beauty and wellness platform Vyomo, which is in yet to be launched state. However the amount of the funds provided is undisclosed.
“We would like to support empowerment of millions of beauty professionals and help them improve their lives and income, and be part of their personal milestones,” said Yuvraj Singh, which is considered as one of the most explosive batsman, cricket history has ever seen.
There has been news recently that IPL’s costliest cricketer is planning to invest about Rs 50 crore, mostly his own money, over 3-5 years in YouWeCan Ventures while the fund is expected to raise about Rs 300 crore from other investors during this period.
“For salons and spas, the duration between 2pm and 5 pm is an underutilized capacity, and with Vyomo, they can manage their inventory in a dynamic manner and offer discounts during those hours,” said Nishant Singhal, co-founder of You-WeCan Ventures. “We want to replicate the success of Uber and Ola in the beauty and wellness sector.”
What’s Vyomo and Why YouWeCan ventures invested in it?
Vyomo is a unique platform designed to simplify the way you find and book beauty services within India and GCC. It connects you with the best Stylists in town at your convenience. You can easily search based on your current location, discover salons and spas, compare prices, read customer reviews and instantly book the service you need within a few taps.
Beauty and grooming industry is currently sailing at $3 Bn evaluation and is growing at 15-20% every year and Vyomo, which is a Delhi based startup, is targeting at 5,000 spas and salons in Delhi-NCR, Mumbai, Bengaluru, Chennai and Dubai, and also planning to collaborate with one million stylists by 2017.
“Signing up with YouWeCan Ventures for securing our seed funding is an important milestone for the company that will allow us to scale up and expand to meet the demands of our global users,” said Abhinav Khare, founder and CEO of Vyomo.