Consumer centric venture fund Sixth Sense Ventures has invested an undisclosed amount in Mumbai-based hyper-local logistics service provider Grab. Beauty and wellness startup Stylofie has raise $250,000 (about Rs 1.65 crore) in seed funding from Hong Kong-based Swastika Company Ltd.
Sixth Sense invests in hyperlocal logistics firm Grab
Recently, online restaurant listing and food ordering startup Zomato also made a strategic investment in Grab to spruce up its delivery process, online restaurant directory and food ordering.
While the recent strategic investment from Zomato will impart scale and ability to improve efficiencies, partnership with Sixth Sense will facilitate implementation and on-ground execution, the statement said.
“While the investment from Sixth Sense is highly valued, Grab really appreciates the Sixth Sense team who quickly identified the industry’s key aspects along with our strengths. The experience brought in by the Sixth Sense team is an asset to tap for Grab’s ongoing growth path,” Pratish Sanghvi, co-founder of Grab said.
Founded by Jignesh Patel, Nishant Vora and Sanghvi in 2012, Grab’s services encompasses restaurants, food tech companies, e-commerce platforms, laundry services, grocery platforms, pharmacy stores, and logistics aggregators. The company claims to have partnered with more than 450 merchants across seven cities, and delivering over 4000 orders per day.
“We believe that the biggest challenge of customer acquisition is taken care of, with strategic partnerships with the largest players in food and logistics space. We like the space, the promoters and the value proposition of hyper local,” said Nikhil Vora, founder and CEO of Sixth Sense Ventures.
Stylofie raises $250k from HongKong’s Swastika
Beauty and wellness startup Stylofie has raise $250,000 (about Rs 1.65 crore) in seed funding from Hong Kong-based Swastika Company Ltd, according to a statement.
The funds will be used by Gurgaon-based Stylofie to expand its services to Delhi and to strengthen technology infrastructure.
Founded by Prateek Agarwal and Saurav Dey in August, Stylofie is an online market place for beauty services wherein one can book a salon, discover salons nearby with their ratings and get access to amazing new offers and deals.
“From a consumer perspective, think about long waiting times on weekends, lack of a standarised review rating mechanism for discovery and non-availability of rate cards online – all pain points which called out for a solution,” said Dey.
The start-up, operated by Soulmo Solutions Pvt Ltd, claims to have more than 100 premium salon/spa outlets listed on its platform and is providing services only in Gurgaon for now.
“Stylofie has two things going for them – great team of seasoned professionals at the helm and a monetisation plan. They have started generating revenues from day one and have very healthy unit economics. I am also impressed with their repeat customer base, which is a terrific sign of the value proposition Stylofie is offering,” said Vaibhav Jain, director with Swastika.