HappyLocate raises 4.4 crore in pre-Series A funding
Inflection Point (IP) Ventures, which has been one of the most active investment platforms this year, has led a pre-Series A funding in relocation platform HappyLocate.
HappyLocate, a Bengaluru-based startup, has raised Rs 4.4 crore (nearly $600,000) in this round, the company and IP Ventures told VCCircle. Other participants in this round include VM Ventures, an early-stage investor.
HappyLocate was set up in 2016 by Duvvuru and Ajay Tiwari. Duvvuru, an alumnus of IIM-Rohtak, has worked with Bharat Petroleum Corporation Ltd and HDFC Bank. Tiwari is an alumnus of Delhi University and has worked with entities including Nokia and Vodafone India.
HappyLocate caters to corporates, allowing employees to access customized portals, schedule packers and movers, and book hotel stays.
It uses multiple streams to generate revenue. These include a subscription service for corporates and a marketplace model for service partners who provide on-ground services offered by the platform, Duvvuru said.
HappyLocate will use the capital it has raised to scale up its operations and enhance its technological infrastructure, increase market penetration, and expand its portfolio of services.
HappyLocate says its platform has so far serviced over 15,000 pin codes in the country for individual employees and commercial spaces. It also claims a stronger customer satisfaction rate than traditional relocation-focussed companies.
