Company Name : myGubbi
Funding Amount : $ 2.5 Million
Investor(s) Vipul Parekh, Ananda Kallugadde, Rajesh K Murthy.
Funding Round : Seed round
Bangalore based myGubbi- an online home interior decor and furnishing company providing end-to-end solutions from designing to execution, along with the flexibility of customization, on Monday raised a seed fund of $ 2.5 Million.
Co-Founder of Big Basket Vipul Parekh, Co-Founder of NeoBytes Ananda Kallugadde and Rajesh K Murthy, EVO of Infosys led the angel round of investment for myGubbi.
myGubbi started their services in September 2015 and has completed over 50 house projects.
myGubbi has successfully blended strong service delivery with a marketplace model and utilizes a seamless blend of online and offline approaches. Co-Founders of myGubbi believe that the business is efficacy of their profitable yet scalable business model and high growth prospects that attracted the investors. And, also the business received a good traction and are targeting a monthly run rate of about 100 homes in Bengaluru alone.
“While we are sufficiently funded and are invested in developing our core assets, we are also in advanced stages of discussion with investors to raise Series A investment to accelerate our expansion into other cities,” said Umesh Sangurmath, Co-Founder and CEO.