Wify Raises $2 Million Pre-Series A Fund The company plans to utilize the fund to further strengthen its technology and invest in the skilling of blue-collar workers associated with the company
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Wify, a full-stack tech platform for home improvement services, has raised $2 million in pre-Series A funding round led by Blume Founders Fund and Unitus Ventures. The round also saw participation from Singularity Ventures and HePo NL, a Netherlands-based investment firm. The company plans to utilize the fund to further strengthen its technology and invest in the skilling of blue-collar workers associated with the company.
"India is yet to become a DIY market. Wify is built to provide a full-stack tech-enabled platform for brands to meet customer expectations throughout the product life cycle. We are excited to partner with Unitus Ventures and Blume Founders Fund, as we prepare for the next chapter in our journey," said Vikram Sharma, CEO and co-founder, Wify.
The company currently serves more than 100 brands in the home improvement sector. It has already served over 2 lakh homes for services which include initial installation, after-sale services and warranty management. It has also created thousands of new jobs by skilling and upskilling technicians. The company is currently operating in 60 cities across India and clocking a monthly revenue of about INR 2 crore, claimed by the company in a statement.
"Wify's superpower is investing in a great blue-collar workforce, training and skilling them to become future-ready. We completely align with Wify's vision towards expanding into different sectors and impacting the lives of a growing section of the 400 million blue-collar workers across India," said Karthik Reddy, partner, Blume Ventures.
Founded in 2019 by Vikram Sharma and Deepanshu Goel, Wify is a full-stack tech platform for B2B and B2C post-purchase home furnishing services. The company claims that, over the next three years, it plans to strengthen its existing customer base and categories, expand into newer categories such as smart homes, commercial spaces and industries while increasing the company's geographical footprint across the country.
"There is a $20 billion worth of demand for companies that are catering to brands and consumers for post-purchase services. With strong management and a combination of full-stack execution and SaaS, Wify has the potential to grab a large share of a growing market," said Surya Mantha, managing partner, Unitus Ventures.
The potential to create a significant impact for not just consumers and brands, but more importantly for workers is the basis of Wify's mission in the long term, as per company statement.