Construction startup Wify raises $2 million in funding led by Blume Founders Fund and Unitus Ventures
Technology-enabled construction and home improvement startup Wify has raised $2 million in funding led by Blume Founders Fund and Unitus Ventures, the firm said. Other investors such as Singularity Ventures and Hepo NL a Netherlands-based investment firm - also participated in this round.
Blume Ventures launched its Founders Fund in January 2021 to invest between $25,000 and $100,000 outside its core investment program to deepen engagement with founders. The Mumbai-based firm said the funds will be utilised for developing its technology and upskilling Wify’s blue-collar workers.
Founded in 2019 by Vikram Sharma and Deepanshu Goel, Wify provides on-site installation and post-purchase services to businesses and brands such as Ikea, Livspace, Homelane, Amazon, and Hettich for streamlining and managing their orders and customers.
“Unlike in the West, consumers here rely on brands for various on-site services such as measurements prior to purchase and installation. Wify is built to bridge this gap by providing a full-stack tech-enabled platform for brands to meet customer expectations throughout the product life cycle,” Sharma said.
Currently, the startup is operating in 60 cities across India and clocking a monthly revenue of about Rs 2 crore. Wify also plans to use the new investment to strengthen its existing customer base and expand into new categories such as smart homes, commercial spaces, and industries. It also aims to increase the geographical footprint across the country, the statement noted.
“In the coming two years, we aim to become the most-trusted partners for on-site services by adding 100,000 and more technicians to our network who are skilled, trained, and certified by us to perform high-quality professional services,” Sharma added. Wify claims to have achieved over three times revenue growth as of July 2022, served over 2 lakh homes, and skilled and trained 3,000 plus technicians.
The firm raised around $2 million in funding in July 2021 led by Unitus Ventures. “Wify’s superpower is investing in a great blue-collar workforce, training and skilling them to become future-ready. A typical technician on the Wify platform is able to double his/her income within a year,” said Karthik Reddy, partner, Blume Ventures.
Blume Ventures launched its Founders Fund in January 2021 to invest between $25,000 and $100,000 outside its core investment program to deepen engagement with founders. The Mumbai-based firm said the funds will be utilised for developing its technology and upskilling Wify’s blue-collar workers.
Founded in 2019 by Vikram Sharma and Deepanshu Goel, Wify provides on-site installation and post-purchase services to businesses and brands such as Ikea, Livspace, Homelane, Amazon, and Hettich for streamlining and managing their orders and customers.
“Unlike in the West, consumers here rely on brands for various on-site services such as measurements prior to purchase and installation. Wify is built to bridge this gap by providing a full-stack tech-enabled platform for brands to meet customer expectations throughout the product life cycle,” Sharma said.
Currently, the startup is operating in 60 cities across India and clocking a monthly revenue of about Rs 2 crore. Wify also plans to use the new investment to strengthen its existing customer base and expand into new categories such as smart homes, commercial spaces, and industries. It also aims to increase the geographical footprint across the country, the statement noted.
“In the coming two years, we aim to become the most-trusted partners for on-site services by adding 100,000 and more technicians to our network who are skilled, trained, and certified by us to perform high-quality professional services,” Sharma added. Wify claims to have achieved over three times revenue growth as of July 2022, served over 2 lakh homes, and skilled and trained 3,000 plus technicians.
The firm raised around $2 million in funding in July 2021 led by Unitus Ventures. “Wify’s superpower is investing in a great blue-collar workforce, training and skilling them to become future-ready. A typical technician on the Wify platform is able to double his/her income within a year,” said Karthik Reddy, partner, Blume Ventures.
