Ratan Tata-backed UrbanClap acquires hyperlocal services startup GoodService
Home services startup UrbanClap Technologies India Pvt. Ltd has acquired Delhi-based concierge services provider GoodService Labs Pvt. Ltd.
The development was first reported by TechinAsia, citing two company sources. The acquisition is an all-cash deal, the report said, without specifying the amount.
Separate email queries sent to UrbanClap and GoodService did not elicit any response by the time of filing this story. But upon clicking the 'Explore' option on the GoodService website, the users are taken to the home page of UrbanClap.
This is second acquisition by UrbanClap this year, after its purchase of after-sale service platform HandyHome.
UrbanClap was founded in October 2014 by Varun Khaitan, an IIT Kanpur alumnus who previously worked at the Boston Consulting Group; Abhiraj Bhal, an IIM Ahmedabad and IIT Kanpur graduate who also worked at BCG; and Raghav Chandra, a University of California, Berkeley, alumnus who worked at Twitter.
The startup connects service professionals such as plumbers, wedding photographers, yoga teachers or interior designers to consumers. It offers services in 75 categories across Mumbai, Delhi NCR, Bengaluru, Chennai and Pune.
UrbanClap had raised investment from Tata Sons' chairman emeritus Ratan Tata in December 2015. Excluding Tata's investment, the company has raised almost $37 million since April last year.
Goodservice was founded in 2014 by Stanford University graduate Vipul Aggarwal and IIM Ahmedabad alumnus Ruchir Jain. It had raised $1.6 million (Rs 10 crore) in seed funding from Sequoia Capital last year.
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