Unitus Ventures and Blume Founders Fund Lead USD 2M Investment in Full Stack Home Improvement Services Tech Platform, Wify

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Unitus Ventures and Blume Founders Fund lead USD 2M investment in full stack home improvement services tech platform, Wify

July 27th, India: The company plans to skill, train, and add 100k+ technicians to its network and reach 2 Million consumer homes by 2024

India’s leading full-stack tech platform for home improvement services, Wify, raises USD 2M in a pre-Series A round led by Blume Founders Fund and Unitus Ventures. Singularity Ventures and existing investor HePo NL, a Netherlands based investment firm, also participated in this round. Proceeds of this funding will be utilized to further strengthen its technology and invest in the skilling of blue-collar workers associated with the company. Over the next three years, Wify plans to strengthen its existing customer base and categories, expand into newer categories such as smart homes, commercial spaces, and industries while increasing the company’s geographical footprint across the country.

Founded in 2019 by Vikram Sharma and Deepanshu Goel, Wify is India’s largest player for on-site installation and post-purchase services for over 100 companies, including brands such as IKEA, Livspace, Homelane, Amazon, and Hettich. The technology platform helps brands streamline and manage their orders and customers throughout the product lifecycle. The company also creates thousands of new jobs by skilling and upskilling technicians and enabling them to service new generation products. Since the seed round led by Unitus Ventures in July 2021, Wify has achieved over 3X growth in revenue as of July 2022, served over 2 lakh homes, and skilled and trained 3000+ technicians. The company is currently operating in 60 cities across India and clocking a monthly revenue of about ₹2 Crores.

Vikram Sharma (L) & Deepanshu Goel (R) Image Credit: The Economic Times

Wify has positioned itself in the after sale service market through its unique offering

Vikram Sharma, CEO and Co-Founder, Wify said “India is yet to become a DIY (Do It Yourself) market. Unlike in the West, consumers here rely on brands for various on-site services such as measurements prior to purchase, and for installation and other services post-purchase. Similarly, brands have to depend on multiple third-party service providers to cover a broader geography. This leads to an unbalanced scale between demand and supply, and a lack of uniform consumer experience.

Wify is built to bridge this gap by providing a full stack tech-enabled platform for brands to meet customer expectations throughout the product life cycle.

Wify skills, trains, and works with professionals to ensure brands provide the best post-sale services for their customers.”

“We are excited to partner with Unitus Ventures and Blume Founders Fund, as we prepare for the next chapter in our journey. In the coming two years, our goal is to become the most trusted partner for on-site services by adding 100k+ technicians to our network who have been skilled, trained, and certified by us to perform high-quality professional services”, he further added.

Karthik Reddy, Partner, Blume Ventures added “Wify has solidified its position in the after-sale services market through its unique offering, powered by technology.  The company today is a trusted partner of 100+ leading brands operating in the home improvement segment.

Wify’s superpower is investing in a great blue-collar workforce, training and skilling them to become future-ready.

A typical technician on Wify platform is able to double his/her income within a year. We completely align with Wify’s vision towards expanding into different sectors and impacting the lives of a growing section of the 400M blue-collar workers across India.”

Surya Mantha, Managing Partner, Unitus Ventures said “There is a $20B worth of demand for companies that are catering to brands and consumers for post-purchase services. This demand and opportunity is only expected to grow further, boosted by the penetration of e-commerce and international brands in India. However, the market remains highly fragmented for last-mile delivery, due to the lack of trained and reliable service partners.

With  strong management and a combination of full-stack execution and SaaS, Wify has the potential to grab a large share of a growing market.

Skilling followed by work opportunities is critical to employment driving models. Wify operates in home improvement services, the fifth largest market segment in India. The potential to create a significant impact for not just consumers and brands, but more importantly for workers is the basis of Wify’s mission in the long term.

About Wify

Wify is a full-stack tech platform for B2B and B2C post-purchase home furnishing services. Wify was founded in 2019 by serial entrepreneurs Vikram Sharma and Deepanshu Goel. The company currently serves more than 100 brands in the home improvement sector including the likes of IKEA, Livspace, Homelane, Hettich, and Amazon across 60 cities. Wify has already served over 2 Lakh homes, for services which include initial installation, after-sales service, and warranty management for products such as modular kitchens and furniture, home automation, and appliances. More about Wify >

About Blume Ventures

Blume Ventures is one of India’s leading early-stage Venture Capital firms. Its investment approach is a balance between data-driven, research-backed decisions based on industry trends, and drawing from the collective years of experience as investors, operators, ex-entrepreneurs and domain experts.

Blume believes in the power of technology, and invests in companies that have the potential to solve big problems at scale in sectors such as deeptech, fintech, healthcare, edtech, mobility, consumer and lifestyle, among others.

Some of its marquee investments include Unacademy, Spinny, Grey Orange Robotics, Slice, Dunzo, HealthifyMe, Classplus, Ultrahuman, Pixxel, and LoveLocal.

Blume launched its flagship fund IV in Q4 2021, its biggest ever, to target bigger opportunities, inspired and motivated by the first wave of success stories in the ecosystem. More about Blume >

About Unitus Ventures: 

Unitus Ventures is the leading venture fund in India that supports early-stage fintech, healthcare, and jobtech startups with India scale and global potential. Launched in 2012, Unitus Ventures is a founding member of Capria Network, the leading global network of emerging market fund managers collaborating to deliver superior returns and scaled impact. Unitus Ventures is based in Bangalore and Seattle. More about Unitus >

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