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| Sainadh Duvvuru & Ajay Tiwari |
- Round led by Inflection Point Ventures with participation from VM Ventures
- HappyLocate, a One Stop Relocation Platform, aims to provide a smooth customer experience for people shifting homes
- Has been featured as the top 10 startups of 2020 in India by Wharton and University of Pennsylvania
- IPV emerges as the top angel network in India, making 19th investment since March of this year
- Funds raised will be deployed for technological upgradation, better market penetration & service expansion
Delhi/Bangalore, 3rd Dec, 2020: HappyLocate, a Bangalore-based Relocation Platform has raised INR 4.4 Cr in Pre-series A led by Inflection Point Ventures and participation from VM Ventures. The funds raised will be directed towards scaling up their operations, technological upgradation, better market penetration and service expansion.
HappyLocate has been featured as one of the Top 10 startups of 2020 at Wharton India Startup Challenge and Amrita TBI PitchFest. Designed exclusively for corporates, HappyLocate has pioneered both personal and commercial shifting across 15K+ pin codes in India and has been the most sought-after moving solution for corporates. HappyLocate also features industry-exclusive AI-based relocation management platform, that enables large organizations to automate and manage their employee relocations end-to-end. HappyLocate is already serving a lot of marquee brands like Coca Cola, United Breweries, Britannia, Titan, Quess Corp, ITC Infotech, Spar, Western Union.
Relocation ecosystem of India has always been a tricky one. While the global serviceable addressable market is about USD 1 Trillion, the Indian market is valued around USD 21 Billion. Despite being a large ecosystem, the average customer rating of the industry as a whole is at abysmal 2.5/5.0 with the average damage-free relocation rate of 63%. However, with their customer first approach, HappyLocate fares much higher than the industry average with a strong customer rating of 4.7/5.0 and an average damage-free relocations rate at 96%.
Vinay Bansal, Founder & CEO, IPV says, "HappyLocate has carved out its USP by ensuring that the relocation is more of an experience as opposed to a dreadful task for its customers. Their customer focus makes them the only player with a full-stack solution available in a large market, covering not only packing and moving but also housing assistance and travel assistance. We are happy to partner with them in their growth journey."
Founded by Ajay Tiwari and Sainadh Duvvuru, Happylocate has served 10,000+ relocation requests till date. With its exhaustive network of 100+ verified Movers and 16000+ Hotels across the country, HappyLocate stands for an unalterable commitment to uniformity in experience across geographies. HappyLocate aims to become a one-stop-shop for all the relocation-related needs of Corporates and their Employees.
Ajay Tiwari, Co-Founder & CEO, HappyLocate says, "We have not just taken a V-Shape recovery but have grown 300% from last year. The new normal has given a natural boost to HappyLocate as companies are now looking for solutions that are intuitive, intelligent and that remove human dependency end to end."
Sainadh Duvvuru, Co-Founder & CBO, HappyLocate adds, "We have built systems and processes to deliver memorable and seamless relocation experience to employees and enhance productivity and cost savings to corporates."
About HappyLocate
Founded in 2016 with a vision to organize the relocation ecosystem in India, HappyLocate is spearheaded by professionals who have first-hand experience of solving problems related to relocations in their careers. Driven extensively by technology, HappyLocate is India's highest-rated corporate relocation management service that helps corporates manage multiple relocation services in a way that is seamless, connected, compliant and cost-effective.
About Inflection Point Ventures
Inflection Point Ventures is an initiative of accomplished CXOs & Angel Investors who firmly believe that "Everyone can Grow with Startups". Started in 2018, IPV has invested more than Rs. 100 crores across 40+ startups. IPV's investors' base, currently at 2700+ is seeing a massive influx of highly accomplished CXOs and HNIs, looking to invest in startups with rational valuation and a sustainable business model.
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