Taxiforsure co-founder Aprameya has invested an undisclosed amount in Mobile Beauty and Wellness Platform Vyomo in its seed funding. This is less than a month after his last day at TaxiForSure, the cab aggregator he and Raghunandan G sold to bigger rival Ola for a neat $200 million (Rs 1,200 crore).
“The Beauty & wellness Industry is a large market, ripe for disruption. I decided to invest in Vyomo based on the extremely focused & effective core team led by Abhinav Khare and Poonam Marwah – they have built an intuitively smooth mobile platform that is way ahead of the competition. Such a high organizational maturity is quite rare for a start-up of this phase”. [Aprameya]
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According to KPMG report, Beauty and Wellness Industry in India will be US$13 billion by 2017 and within MENA region it was US$25.5 billion in 2014 as per the global market intelligence firm Euromonitor International.
Commenting on the development, Yuvraj Singh, an existing investor in Vyomo through his recently founded Youwecan VC fund said “At Vyomo our aim is to create a complete end to end solution for Beauty & Wellness, a mobile platform that is lacking so far within the industry and ultimately repeat the success story of tech startups within Cab industry. Thus having Aprameya on-board is priceless”.
The Vyomo Mobile App for Salons, Spas and Stylists was made available in May 2015. The Customer App is launching today. Within the first 4 weeks, Vyomo has already brought 1500 Salons and Spa on-board.
Aprameya Radhakrishna commented, “Vyomo is simplifying Beauty and Wellness Industry by providing the complete fulfillment technology stack for customers and beauty professionals. We have built a curated platform. Thus, despite having more than 1500 Salons on-board, we have opened our platform only to 25% of the verified Salons and Spa in the first phase. Remaining salons are still going through product and process training by our dedicated Account Managers”.
“Having Aprameya as our investor and a member of advisory board is a great validation for our Mobile only strategy. We are looking to replicate the success of the on-demand cab industry and thus having him will only enhance our execution even further. He will be involved very closely in advising me on the Strategy, business model and leadership hiring decisions. His presence in our team, will allow us to scale and expand quickly,” said Abhinav Khare, founder and CEO.