Home service startup UrbanClap is looking to wind up its non-core businesses such as wedding services and photography in a bid to ramp up its focus on two key categories, beauty and home, according to a report by The Economic Times.
Currently, the beauty and home segment contributes as much as 40 per cent to revenue of the Gurugram-headquartered company, backed by investors such as Tiger Global Management, Steadview Capital and Vy Capital.
Going forward, UrbanClap is reportedly looking to introduce a luxury salon at home service at a time when the beauty and wellness industry in India is increasingly gaining steam in the backdrop of rising disposable incomes and changing lifestyles.
According to data available with KPMG, the market touched Rs 80,370 crore in the 2017-2018 fiscal.
For beauty and home categories, UrbanClap plans to have a full-stack approach wherein it will individually monitor the ‘supply’ on its platform.
The startup made earlier in August when it raised as much as $75 million in a Series E round. Immediately before that, it secured funding to the tune of Rs 1.5 crore in July from former Flipkart CPO Mekin Maheshwari and Avaana Capital Founder Anjali Bansal.
Established in November 2014, UrbanClap is currently present in 14 cities in India such as Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune, Ludhiana, Lucknow, Vadodara and Visakhapatnam). Besides, it also operates two international markets Dubai and Abu Dhabi.