On-demand convenience platform TimBuckDo raises Bridge funding at Rs 120 Cr valuation
On-demand convenience platform TimBuckDo has secured an undisclosed amount in a bridge funding round at a pre-money valuation of Rs 120 crore. The round saw investment from Srinath Setty through his family office, Trasa Ventures, along with Adarsh Narahari.
The Bengaluru-based startup is gearing up to raise its Series A funding in the coming months, TimBuckDo said in a press release.
The company had earlier raised approximately Rs 6.6 crore in a seed round last year. The round included Nandkishore Kalambi, Morton Meyerson, Arjun Vaidya, Anupam Bansal, Sandesh Sharda, Rukam Capital, IDEABAAZ, the founders and TurboStart.
TimBuckDo will use the latest funding to support its next stage of growth as it prepares for the upcoming Series A round.
Founded in 2022 by Mythri Kumar and Apoorv Sharma Prasad, TimBuckDo operates an on-demand convenience marketplace that relies on verified college students, known as “Doers”. The platform enables households and businesses to hire students for services such as elder companionship, pet care, child support, home business assistance and other daily requirements.
The startup also aims to provide college students with flexible income opportunities while they continue their education. Over the next three years, TimBuckDo is targeting gross revenue of around Rs 400 crore and more than 10,000 household orders every day across India.
The wider on-demand convenience sector has attracted funding from investors as well. Pronto raised $25 million in a Series B round in March to scale its household-help platform. In August, AI concierge startup Hulp secured $2.6 million in seed funding to provide human-assisted support for household and lifestyle-related tasks.
