On-demand Home Services Firm UrbanClap Raises $50 Million
India’s on demand home services marketplace UrbanClap has secured funds amounting to $50 million in a fresh funding round. This round was led by Hong Kong-based hedge fund Steadview Capital along with existing investor Vy Capital.
With this round, the valuation of the company will more than double to $480 million. UrbanClap which also counts Accel, SAIF Partners, Bessemer Venture Partners and Ratan Tata amongst its investors, was last valued at $200 million when it raised capital in 2017.
The funds so raised will be used by the company to accelerate the onboarding of both customer and service partners, build stronger teams across product and technology, build training capabilities as also enhance its supply chain of consumables.
“The core of our business which is beauty, cleaning an...