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<ul><li><keyword id="2811049" type="PERSON" weightage="20" keywordseo="UrbanClap">UrbanClap</keyword> has reportedly raised ₹1.6 crore from <keyword id="6379357" type="PERSON" weightage="20" keywordseo="kalyan-krishnamurthy">Kalyan Krishnamurthy</keyword>. </li><li>This is Kalyan’s second personal <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword>, while the first one was B2B <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> Moglix. </li><li>The home services startup includes Ratan Tata, SAIF Partners, Accel Partners among others in its list of existing investors. </li></ul>Gurgaon-based home services startup UrbanClap has raised ₹1.6 crore from <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> CEO Kalyan Krishnamurthy, according to <a href="https://www.business-standard.com/article/companies/after-moglix-flipkart-ceo-kalyan-krishnamurthy-bets-big-on-urbanclap-119040900054_1.html">paper.vc,</a> a business intelligence firm. The Gurgaon-based home services startup UrbanClap has a list of existing marquee investors like SAIF Partners, Ratan Tata, Accel Partners and Bessemer Venture Partners. Prior to this investment, the startup had raised funding of $50 million in a Series D round from Steadview Capital Management and existing investor Vy Capital in November 2018. UrbanClap had also recently <a href="https://bestmediainfo.com/2019/03/urbanclap-unveils-new-campaign-with-ayushmann-khurrana-as-brand-ambassador/">announced</a> that Bollywood star Ayushmann Khurrana is its brand ambassador. The startup, which was founded in 2014, offers services at home for its customers. In almost five years in the business, the startup has garnered more than 35,000 trusted and verified professionals on the platform that serve more than 500,000 customers each month, across 10 cities in India (including Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune). The startup also made its international debut by expanding its offerings into Dubai. Meanwhile, Flipkart CEO Kalyan Krishnamurthy has been upping his investment game. He made his first solo investment in the B2B startup Moglix. The investment amount remains undisclosed. Kalyan during his earlier stint as Managing Director at investment firm Tiger Global had made investments in Nestaway, Curefit etc. See Also: <a href="https://www.businessinsider.in/here-are-the-25-most-popular-workplaces-in-india-according-to-linkedin/articleshow/68704338.cms">Here are the 25 most popular workplaces in India, according to LinkedIn</a> <a href="https://www.businessinsider.in/large-ticket-deals-drive-rise-in-private-equity-investments-in-india-this-year/articleshow/68296615.cms">Large ticket deals drive rise in private equity investments in India this year</a>

Flipkart CEO Kalyan Krishnamurthy places his bets on home services startup UrbanClap

<ul><li>Gurugram-based home services startup <keyword id="2811049" type="PERSON" weightage="20" keywordseo="UrbanClap">Urbanclap</keyword> plans to launch in 4 Indian cities in the next quarter. </li><li>The startup recently announced its plan to expand to Abu Dhabi.</li><li>Two new services – men’s grooming and on-demand maid for cleaning – which are currently live in Delhi will soon be launched across India. </li></ul>Urbanclap was a small startup based out of Gurugram in 2014, offering home services digitally. Today, it has operations across 10 cities in India, Dubai and Abu Dhabi. It recently announced its Abu Dhabi expansion, and plans to grow its UAE business twice over, on a monthly basis. What’s more, the company has plans to become a ₹100 billion company! In an interview with Business Insider, <keyword id="3012564" type="PERSON" weightage="20" keywordseo="Varun-Khaitan">Varun Khaitan</keyword>, co-founder, Urbanclap said that there are many plans in store for their India business as well. Urbanclap will soon launch in four more cities by the next quarter. Two new services – men’s grooming and on-demand maid for cleaning – which are currently live in Delhi will be launched across India. “Our investments are on constantly improving the business,” said Khaitan. Profitability vs Scale UrbanClap recently raised ₹16 million from Flipkart CEO Kalyan Krishnamurthy, according to paper.vc, a business intelligence firm. It has marquee investors like Ratan Tata, SAIF Partners, Accel Partners and Bessemer Venture Partners on board, and raised a total funding of $110 million. The startup has about 6 lakh users per month with 20,000 service professionals on-board. But the main question is – how far is profitability? “If we want to, we can turn profitable in the next three months. Instead, we want to invest in our future and build our scale to one day make Urbanclap a ₹100 billion company,” said Khaitan. Recently, Urbanclap <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/urbanclap-revenue-up-309-losses-down-25-in-fy18/articleshow/64008938.cms?from=mdr">reported </a>a 309% jump in its operational revenue to ₹450 million for 2017-18. The losses however were at ₹750 million. “In the last three years, our jump in revenue has been significant while the losses in quantum have remained flat. The amount of burn remaining flat with revenue increases, is a sign of scale. If you want to keep growing, you will have to be investing for tomorrow’s growth,” said Khaitan. An offer they couldn’t refuse All the founders Abhiraj Bahl, Raghav Chandra and Khaitan, came back from the US hoping to build a business. They had the common goal of solving a problem for the masses. After extensive research, the idea of helping people run their homes appealed to them. They also realized that professionals like electricians and beauticians too barely make any money due to middlemen or employers. “We realised very early on that the problem that we were solving was not just building a marketplace and connecting users. We ended up removing the middlemen and transitioning these employees or service professionals into microentrepreneurs,” said Khaitan. Service professionals like electricians, beauticians and carpenters had nothing to complain as Urbanclap made them an offer they couldn’t refuse. “We told them you keep 80% of the earnings, Urbanclap will keep 20%. Overnight their earnings went up. Today, every other service professional through Urbanclap earns makes an average of ₹40,000 per month. Hundreds of our beauticians make more than ₹1 lakh a month,” said Khaitan. Making a difference to professionals also improved service quality to consumers. When they started, the founders were hoping to have at least 100 users per day, by the end of 2015. However, they had 1000 per day. The founders got what they wanted – solving a systemic problem in the country – as opposed to building a business, to sell and chill in a yacht. See Also: <a href="https://www.businessinsider.in/EXCLUSIVE-This-Indian-startup-has-made-a-profit-solving-1100-police-cases-with-just-one-round-of-funding/articleshow/69871636.cms">EXCLUSIVE: This Indian startup has made a profit solving 1,100 police cases with just one round of funding</a>

INTERVIEW: Urbanclap claims it can turn profitable in 3 months but it won’t – here’s why

<ul><li>Indian entrepreneurs have come together and formed a group called ‘Founders against COVID-19’. </li><li><keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> of Snapdeal, Gaurav Munjal of Unacademy, Phanindra Sama of RedBus, Abhiraj, Varun and Raghav from Urban Company, Kunal Shah from Cred have joined over 50 startup founders and investors to form the group. </li><li>They also suggested that a government war room headed by the Chief Minister of each state should be set up. </li></ul>Indian entrepreneurs have come together and formed a group called ‘Founders against COVID-19’. Under the group, the startup founders have sent out a petition to the government of India to take even more stringent action to stop the spread of the deadly <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword>. Kunal Bahl of Snapdeal, Gaurav Munjal of Unacademy, Phanindra Sama of RedBus, Abhiraj, Varun and Raghav from Urban Company; Kunal Shah from Cred have joined over 50 startup founders and investors to form the group. The group has suggested that the Indian government should impose Section 144 in most major cities and head for a complete lockdown in order to ensure quarantine. The founders have suggested a four step process – Section 144 to be imposed and a lockdown from March 20 to April 12; a precautionary phase of social distancing from April 13 to May 17; second lockdown from May 18 to May 31 and finally, opening up with social distancing June onwards. They have also suggested that a government war room headed by the Chief Minister of each state should be set up. As the Coronavirus pandemic spreads, the Indian government has already taken swift action and shut down malls, theatres, pubs etc in several cities. Over 20 lakh IT employees have been asked to work from home to prevent the spread of the virus. Yet, cities like Mumbai have seen little difference in peak hour traffic which shows that few are opting to stay home. But as people are fearing a complete shutdown, they are also hoarding on groceries. In such a scenario, the founders group is asking the government to ensure that there is a steady supply of essentials in the market. This also includes that the government should ensure that there is cash availability in the ATMs. “Open up to the private sector and ease out licensing for production,” was another suggestion from the group. The group has also done an analysis of the growth in Wuhan, the epicentre of the Coronavirus, to say that actual undiagnosed cases are 5-20 times of the diagnosed cases – thus urging the government to amp up the tests in the country. See Also: <a href="https://www.businessinsider.in/topic/coronavirus">coronavirus: Latest News, Articles on coronavirus | Business Insider India</a> <a href="https://www.businessinsider.in/india/news/many-uber-drivers-in-bengaluru-claim-at-least-50-drop-in-bookings-as-coronavirus-keeps-people-off-roads/articleshow/74604230.cms">Many Uber drivers in Bengaluru claim at least 50% drop in bookings as coronavirus keeps people off roads</a>

India’s top entrepreneurs form Founders against COVID-19 and ask government to head for a complete lockdown, build war rooms

<ul><li><keyword id="270604" type="ENTERTAINMENT" weightage="20" keywordseo="Sequoia">Sequoia</keyword> India, <keyword id="65520" type="COMPANY" weightage="20" keywordseo="matrix">Matrix</keyword> Partners, <keyword id="161314" type="COMPANY" weightage="20" keywordseo="SAIF-Partners">SAIF Partners</keyword>, Lightspeed Ventures, Kalaari Capital, <keyword id="733500" type="ORGANIZATION" weightage="20" keywordseo="Accel">Accel</keyword>, Chiratae Ventures, Omidyar Network and Nexus Partners along with several startup founders launched a ₹100 crore grant.</li><li>The grant is purely charitable with no financial interest from investors.</li><li>Founders like Vijay Shekhar Sharma of Paytm, Ritesh Agarwal of OYO, Abhiraj Bahl of Urban Company, Deep Kalra from MakeMyTrip, have contributed to the fund.</li></ul>On Tuesday evening (March 31), India’s top VCs published an extensive note for startup founders to follow during the Covid-19 crisis. But like Mohit Bhatnagar, Managing Director, Sequoia India said during a conference call with reporters, “In terms like these, words are cheap and action is right.” Investors swiftly sprung to action. They have now launched Action COVID -19 Team (ACT). Sequoia India, Matrix Partners, SAIF Partners, Lightspeed Ventures, Kalaari Capital, Accel, Chiratae Ventures, Omidyar Network and Nexus Partners along with several startup founders, launched a ₹100 crore grant to fund ideas that will lead the fight against the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> pandemic. The grant is purely charitable with no financial interest from investors. It is also subject to tax exemptions of upto 50% under section 80G. Ideas in the following areas will be eligible for the grant ● Prevention of Covid-19 spread ● Scaling Testing ● Disease management at home ● Enhanced support for healthcare workers &amp; hospitals ● Management of critically-ill patients ● Support for mental health The initial grants will be for ₹10 lakh but once the startup can prove a product-market fit, the investors will double down on the grant which can go up to ₹10 crore per idea. The grant already received over 40 proposals. So far, the VCs committed ₹2.5 crore to startups like IVR project, MyLab and Ventilator Splitter. Founders like Vijay Shekhar Sharma of Paytm, Ritesh Agarwal of OYO, Abhiraj Bahl of Urban Company, Deep Kalra from MakeMyTrip, have contributed to the fund. The first ₹100 crore will be deployed over the next two months, the team which will be evaluating these grants will also include healthcare experts. The eligibility of the grant is not limited to startups but any organization which can be a force multiplier in the fight against coronavirus – even a volunteer group that has an idea. “Strong execution teams, which have the DNA for technology and ideas that are capital efficient and force multipliers, that can leverage the existing startup ecosystem,” said Prashant Prakash, partner at Accel during the call. They also collaborated with the Bengaluru-based chapter of ‘United Way’, a global non-profit organization, to help coordinate the project and grant activities. It is an ISO-certified, FCRA and 80-G compliant organization. “Every crisis in the past has redefined the world, so the hope is that we come out stronger,” said Avnish Bajaj of Matrix Partners. See Also: <a href="https://www.businessinsider.in/business/startups/news/indias-top-vcs-publish-best-practices-for-startups-to-ride-the-covid-19-crisis/articleshow/74924050.cms">India's top VCs publish ‘best practices’ for startups to tide over the Covid-19 crisis</a> <a href="https://www.businessinsider.in/business/startups/news/startup-funding-could-halt-valuations-to-take-a-hit-and-business-models-have-to-be-pivoted-say-investors/articleshow/74910779.cms">Startup funding could halt, valuations to take a hit and business models have to be pivoted say investors</a>

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Flipkart CEO Kalyan Krishnamurthy places his bets on home services startup UrbanClap

Sanchita Dash

INTERVIEW: Urbanclap claims it can turn profitable in 3 months but it won’t – here’s why

Sanchita Dash

India’s top entrepreneurs form Founders against COVID-19 and ask government to head for a complete lockdown, build war rooms

Sanchita Dash

India’s top VCs set-up ₹100 crore grant to fund ideas to fight Covid-19

Sanchita Dash

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