The pre-series A funding round for the construction and home improvement platform Wify, headed by Capria Ventures, has brought in Rs 17.5 crore, or $2.1 million. The Mumbai-based company is raising capital for the first time this year with this round.
The regulatory filing obtained from RoC reveals that Wify’s board has approved a special resolution to issue 30,455 pre-series A CCPS at an issue price of Rs 5,747 each, raising Rs 17.5 crore.
Capria Ventures contributed eight crore rupees, while Duo Design and Optimistic Trading Company contributed three and one rupee, respectively. Pre-series A round participants Blume Ventures and Singularity Growth, who are already investors, contributed Rs 2 crore and Rs 3 crore, respectively.
In July 2022, Wify completed a second seed round with $2 million raised. The company’s initial financing round valuation, according to the media, was approximately Rs 128 crore (post-money).
Vikram Sharm and Deepanshu Goel founded Wify in 2019 with the goal of providing businesses and brands with on-site installation and post-purchase services.
In FY23, the four-year-old company reported revenue of Rs 24.47 crore, more than doubling its growth from the previous year. Wify’s losses during the same time-period totalled Rs 5.65 crore.
