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Taskbob raises $4.5 million from IvyCap Ventures and existing investors


Mumbai-based on demand home services home and services startup Taskbob has raised $4.5 million in a series A round of funding led by IvyCap Ventures and existing investors, Orios and Mayfield. Norbert Fernandes, Co-Founder and Principal at IvyCap will shortly be joining the board of Taskbob on behalf of IvyCap Ventures.

Taskbob claims to have around 1 lakh users in whole of Mumbai who avail their services. The company also says that it gets 800 to 1,000 bookings a day with a repeat booking rate of 70%. It plans to scale to 10,000 orders per day and achieve profitability at a unit level in Mumbai.

Taskbob will use the funds to expand its presence in multiple markets, focus on product growth and evaluate acquisition opportunities.

In April last year, TaskBob raised $1.2 million in funding led by Orios Venture Partners, with participation from Mayfield Fund, to expand to other parts of Mumbai. At that time, it was serving only the Powai suburb in the metro, and also claimed to offer money back to dissatisfied customers.

Zepper acquisition

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In November 2015, Taskbob acquired Bangalore-based Zepper for an undisclosed amount. The acquisition is a merger of assets deal and Zepper will shut down its services. The acquisition allowed Taskbob to expand into Bangalore with 300 servicemen and supposedly 2,500 customers, and offer house cleaning, pest control, carpentry and packing and moving etc services.

Developments in the space

– Earlier this month, Housejoy acquired fitness startup Orobind for an undisclosed amount. Housejoy acquired Bangalore based dry cleaning and laundry company MyWash Technologies for an undisclosed amount to scale its laundry services from 1,000 to 10,000 per day over the next year. Housejoy currently offers laundry services in Bangalore, Delhi, Mumbai, Hyderabad and Chennai.

– Around the same time, Zimmber  acquired hyperlocal lifestyle services marketplace FindYahaan for an undisclosed amount.

– In December, SBricks, a home cleaning and laundry service provider, acquired Melway, a facility management and services company, for an undisclosed amount.

– In the same month, Paytm acquired the Gurgaon-based services marketplace Near.in for $2 million.

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– In the same month, services marketplace UrbanClap raised an undisclosed amount in funding from Ratan Tata in his personal capacity, less than a month after the startupraised Rs 165 crore.

– In November, Wassup, an on-demand laundry services app, acquired the Mumbai-based laundry provider Chamak for an undisclosed amount.

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