Technology-powered home services market Urban business raised $ 255 million in a Series F funding round that values ​​the company at $ 2.1 billion, according to a company Press release.

The cycle was led by new investors Companies Prosus, Dragon tree and Wellington management. It also included existing investors Capital city, Global Tiger and Steadview, indicates the press release.

“The latest round includes a primary capital injection of $ 188 million and a secondary sale of about $ 67 million by selected angel investors and early investors,” the statement said.

Urban Company will use the new capital for “innovation, training, product development, improved quality control and safety measures for partners and consumers,” the statement said. He also said he plans to expand into India’s 100 largest cities and international markets.

The company said in the statement that it has 35,000 service partners and is the “largest home services market” in Asia.

“With this funding, we plan to grow our business rapidly while continuing to invest more in the safety of our consumers and service partners, partner training and product development,” said the co-founder and CEO of Urban Company. . Abhiraj Singh Bhal in the output.

Prosus Ventures Head of Investments for India Ashutosh Sharma said in the statement, “Urban Company is disrupting a large, fragmented industry that has seen low digital adoption so far. With its technology platform and willingness to provide trained and high quality service partners, Urban Company has been able to accomplish the very difficult task of producing services. Additionally, the initial traction with international expansion into geographies we know well is encouraging and presents a significant growth opportunity going forward. “

Founded in 2014, Urban Company offers services ranging from home beauty treatments to appliance repair and carpentry, the release said.

Work is scheduled through a smartphone app. Urban Company operates in 35 cities in India, the United Arab Emirates, Singapore, Australia and Saudi Arabia, the statement said.



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