The Bangalore-based beauty services startup will now be known as Natural @Home
Bangalore-based beauty services startup Vyomo today announced that it has received a US$15 million Series A round from one of India’s top salon chain Naturals.
Though an official statement declared the investment as a Series A round, Tech Circle reported that it is likely to be a strategic deal for a controlling stake, as Vyomo will be rebranded as Natural @Home.
There is no information whether the investment is solely through a primary share purchase or involves a secondary transaction, with existing shareholders selling their stake, as Vyomo declined to comment further on the nature of the deal.
Naturals Founder Veena K cited e-commerce as ‘the way forward’ for the company, and that they want to be part of the future.
“We want to use the tech platform to reach out to a lot more, who need door-step services,” she said in a statement.
Natural plans to take Naturals @Home to 80 cities in the next six months, starting from its base Chennai in May, followed by Bangalore, Delhi and Mumbai.
It is considered as one of the biggest salon chains in the country with 550 salons in 80 cities.
Vyomo was founded by Khare and Poonam Marwah in June 2014. The platform connects customers with stylists and salon chains through a mobile app, which they can use to discover salons and spas, compare prices, read reviews and book services.
In 2015, Vyomo raised an undisclosed amount of funding from cricketer Yuvraj Singh’s YouWeCan Ventures and TaxiForSure Co-Founder Aprameya Radhakrishna, in April and June respectively.
Indian tech scene has seen the rise of on-demand beauty services’ popularity, with startups such as MyGlamm raising US$6 million of Series A funding from French beauty company L’Occitane International SA, Indian mid-market private equity fund Tano Capital and Brand Capital.
Stylofie also raised US$250,000 of seed funding from Hong Kong-based Swastika Company Ltd., while StayGlad raised an undisclosed amount of Series A from Silicon Valley-based Bessemer Venture Partners last year.
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