Amazon is in advanced talks to buy a stake in Housejoy to cash in on the growing on-demand home services marketplace in India. Gurgaon-based job credentialing platform Aspiring Minds has set up a fund of $1 million to provide seed capital to start-ups in education and employment technology space.
Amazon in talks to buy stake in Housejoy
Launched in January 2015, Housejoy is operated by Bangalore-based Sarvaloka Services On Call Pvt Ltd. It provides a variety of on-demand services including maintenance and home repairs to plumbing, electrical, computer repairs and also specialised services in beauty and in-house bridal make-up.
The deal, when it happens, will see Amazon leading a funding round of $15-20 million in the Bengaluru-based startup, the report said.
Housejoy is backed by serial entrepreneur couple Krishnan Ganesh and Meena Ganesh, as well as venture capital firm Matrix Partners India.
Housejoy was incubated at the Ganesh couple’s GrowthStory. The company recently raised $4 million in series A funding from Matrix Partners and also appointed former Flipkart product management executive Saran Chatterjee as its CEO for steering and expanding operations.
Aspiring Minds floats $1 million seed fund
Gurgaon-based job credentialing platform Aspiring Minds has set up a fund of $1 million (about Rs 6.5 crore) to provide seed capital to start-ups in education and employment technology space.
The funds, which will be invested over the next 12-18 months, will focus on investing in technology driven companies which are developing innovative solutions using mobile technology and data science to address inefficiencies in the education and labor market.
“We work with millions of students and job seekers and clearly see a wide range of addressable gaps. With innovation in mobile technology and data science, fast access to the market, many of these problems can now be addressed effectively. We want to encourage companies which match disruptive innovation solutions like ours to build capabilities in the education and employment technology space”, said Himanshu Aggarwal,Co-founder and CEO, Aspiring Minds.
The funds will be largely focused on the markets of India, China and the US. Besides assisting with capital, Aspiring Minds is also willing to incubate these companies for a fixed time duration, if required.