UrbanClap has raised Rs 1.6 crore funds from Flipkart Group's CEO - Kalyan Krishnamurthy. This is not the first instance where Krishnamurthy has invested in a growth stage start-up.
Krishnamurthy invested in Moglix, a industrial tools and equipment marketplace, fitness and health tech company Curefit, Goodera, Unacademy and NestAway before.
According to the news source, the share price for the round stood at Rs 51,552 which is significantly lower from its Series D round when its share was valued Rs 68,737 each. At that time it was valued at about $442 million.
The Gurugram-based company had so far raised $110 million in total funding. At present, the biggest segment on UrbanClap is beauty services, followed by appliance repairs, and house cleaning services.
The losses of UrbanClap are higher than the revenue of the company. The company also reduced losses by about 16 per cent to Rs 56.49 crore in FY18 from Rs 67.18 crore in the preceding fiscal.
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