Be U Salons raises Rs 4 cr seed funding
MUMBAI: Be U Salons, part of the Delhi-based Gingerpan Swapkart, raised Rs 4-crore as seed funding from a consortium of investors from UAE, Singapore and India.
The funding was led by Gaurav Kachru from 5 Ideas Startup Superfuel and received participations from Sundeep Singh Sahni, founder, Lazada Group and former VP of Ola New Initiatives, Jatin Aneja, partner at Shardul Amarchand Mangaldas Bikramjiet Kukreja and Arjun Malhotra, a serial entrepreneur, among others.
The funds will be directed towards strengthening the back-end operations and tech infrastructure, building core talent and marketing of the current and new stores.
Founded in October, 2016 by Vikas Johari, Shailendra Nagvani and Jigyasa Gupta, the salon chain started operations in December, 2016 and currently has 20 outlets operating across Delhi-NCR. It functions in the B2B2C space and is engaged in fixing the demand-supply gap in salon industry through both on-ground operations and technology.
"Around 90% of the Indian salon industry comprises standalone outlets, where most of them suffer from lack of a back-end infrastructure, standardization, technological automation, intelligent pricing, branding and marketing, amongst many others. We are here to provide a support ecosystem to bring them out of the crisis," Vikas Johari, founder and CEO, B U salon, said.
The startup aims at opening 100 outlets across multiple cities in the new financial year.
According to a report by KPMG, India's beauty and wellness market is poised to double to around Rs 80,000 crore by 2017-18, from around 40,000 crore in 2012-13 and the space is being touted as a fertile one.
The funding was led by Gaurav Kachru from 5 Ideas Startup Superfuel and received participations from Sundeep Singh Sahni, founder, Lazada Group and former VP of Ola New Initiatives, Jatin Aneja, partner at Shardul Amarchand Mangaldas Bikramjiet Kukreja and Arjun Malhotra, a serial entrepreneur, among others.
The funds will be directed towards strengthening the back-end operations and tech infrastructure, building core talent and marketing of the current and new stores.
Founded in October, 2016 by Vikas Johari, Shailendra Nagvani and Jigyasa Gupta, the salon chain started operations in December, 2016 and currently has 20 outlets operating across Delhi-NCR. It functions in the B2B2C space and is engaged in fixing the demand-supply gap in salon industry through both on-ground operations and technology.
"Around 90% of the Indian salon industry comprises standalone outlets, where most of them suffer from lack of a back-end infrastructure, standardization, technological automation, intelligent pricing, branding and marketing, amongst many others. We are here to provide a support ecosystem to bring them out of the crisis," Vikas Johari, founder and CEO, B U salon, said.
The startup aims at opening 100 outlets across multiple cities in the new financial year.
According to a report by KPMG, India's beauty and wellness market is poised to double to around Rs 80,000 crore by 2017-18, from around 40,000 crore in 2012-13 and the space is being touted as a fertile one.
