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Services marketplace LocalOye raises $5 million; takes app only approach

localoye

Services marketplace LocalOye has raised $5 million in a Series A round of funding from Lightspeed Venture Partners and Tiger Global Management. The startup will use the funds to scale its business to other cities including Bangalore, Delhi NCR and Noida and expand to more service categories.

Operating out of Mumbai, the platform currently serves exclusively in the city, where it claims to offer services in over 250 categories, including education (e.g. tutors), home services (e.g. appliance repairs), wellness (e.g. yoga, fitness) and events (e.g. photographers) etc. The startup mentions that its team screens and performs personal verification including aadhaar verification and driving license verification, of each service professional before listing them on its website.

Interestingly, speaking to Medianama, LocalOye mentioned its soon going to go app only. The startup will redirect its users from the mobile and desktop websites to use the service from its app. The startup said that 28% of its mobile users are recurring customers while only 8% of its desktop website users are recurring, and that half of its around 20,000 monthly customers came from mobile, although it did not advertise its mobile app.

The startup adds that the user experience on the app is better, as it can enable features like chat for users and calendering and invoicing for merchants.

Competition:

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– In January this year, Gurgaon-based Near.in raised Rs 1.8 crore from a series of individual investors including Manish Vij of SVG Media and Anupam Mittal of Shaadi.com. The platform which was launched by Wirkle co-founder Sunil Goyal, Lomesh Dutta & Akshay Khanna the month before, offers service providers across various categories like Home Needs (home services, architects & interior designers) Health & Wellness (dieticians, physiotherapists and zumba classes) and Events (photographers, makeup artists, tattoo artists, event planners).

– JustDial’s Search Plus suite of services, which launched in 2013, offers services like flower delivery, doctor appointment, laundry pickup, grocery shopping and pharmacy supplies among others.

– Zimmber, which recently raised funding, also provides an online home service booking platform, for things like electric glitches, installation of A/Cs and fixing a tap leak etc. Similarly there are several services marketplaces in India focused on particular verticals, like event management solutions marketplace Explara, relocation service providers marketplace RelocateXP & EZMove, and home services marketplace Timesaverz, among others.

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