#Asia India’s on-demand beauty services startup stayglad raises Series A

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The funds, raised from VC firm Bessemer and former Lakme Lever CEO Anil Chopra, will be used for expansion to new cities

(L to R) StayGlad Co-founders Prateek Jain, Kavish Desai and Shashank Gupta

(L to R) StayGlad Co-founders Prateek Jain, Kavish Desai and Shashank Gupta

Bangalore-based on-demand beauty services startup stayglad has secured an undisclosed amount in Series A round of funding from Bessemer Venture Partners and Anil Chopra, former CEO of Lakme Lever.

The company will use the funds for expansion to new cities.

stayglad previously raised seed funding from Tracxn Labs and Sahil Barua in June 2015.

The startup was founded in May 2015 by three IIT Kharagpur graduates — Kavish Desai, Shashank Gupta and Prateek Jain. stayglad’s beauty professionals provide services at customers’ home. The firm says every beautician has five-eight years of experience and undergoes rigorous process and skill training.

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“In a short period of time we have been able to build a loyal customer base, which reflects in the 70 per cent repeat orders every month. We have been growing 20 per cent week on week; word of mouth and endorsement by our existing customers continue to be the biggest channel for consumer acquisition,” said Jain.

According to Desai, stayglad’s mobile app for professionals acts as one-point solution for all their needs — from logistics, routing, orders, cash and inventory management. The service professionals are already witnessing a jump of 50 per cent and above from the salaries with their previous employers in salons, he added.

“The beauty services industry is huge and growing at a rate of over 20 per cent per annum. Most women across age groups avail of beauty services at least once in three months, across big cities and smaller towns. The online and convenience of having these services at home will be a big game changer for the industry and customers,” said Chopra.

Another player operating in this segment is Styl, which lets users make appointments with salons and spas through its mobile app. The firm recently raised US$110,000 in angel funding from a group of unnamed angel investors.

 

The post India’s on-demand beauty services startup stayglad raises Series A appeared first on e27.

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