Housejoy raises over $3 million from Matrix and others

Earlier this year, the Gurugram-based startup that offers various at-home services laid off around 40 employees across departments to check spiralling cost structuresET Tech  |  December 13, 2018, 10:24 IST
Housejoy has raised about $3.24 million in a bridge round, as per RoC filings. The funding led by Matrix comes in after a gap of almost three years.

In the fresh round, Matrix has invested $1.34 million while Vertex Ventures, RTP Ventures, Qualcomm Ventures, Sama Capital put in about $1.58 million along with serial entrepreneur and promoter of the company Ganesh Krishnan who has invested Rs 2.35 crore in a personal capacity. The startup has so far raised $30 million.

Notably, Amazon an existing investor
Housejoy was launched in January 2015 to provide an aggregation of home services to customers.
Housejoy was launched in January 2015 to provide an aggregation of home services to customers.
in the startup has not participated in the current round.

Earlier this year, the Gurugram-based startup that offers various at-home services laid off around 40 employees across departments to check spiralling cost structures.

ET additionally also reported that the startup reduced its exposure to operationally-intensive categories and is looking to turn the platform to a marketplace model.

For Housejoy, operational expenses in FY17 at almost Rs 8 crore per month were four times higher than monthly revenues at about Rs 2 crore.

Last month, its competitor UrbanClap had also raised $50 million led by Hong Kong-based hedge fund Steadview Capital along with existing investor Vy Capital.