Snapdeal to pick 10% stake in on-demand services, Zimmber

New Delhi-based Jasper Infotech which heads the online marketplace Snapdeal, is said to be in the final stage of talks to infuse funds in on-demand home services platform Zimmber.
Snapdeal

New Delhi-based Jasper Infotech which heads the online marketplace Snapdeal, is said to be in the final stage of talks to infuse funds in on-demand home services platform Zimmber. The company is also seeking other investments proposals to its board. Jasper Infotech is expected to inject a sum of 40-50 cr funds in Rejuvenate Solutions which runs Zimmber, for about a 10% stake.

Jasper is betting big in the on-demand services space, as this is its second investment within 4 months. The firm invested $36 million in hyper local delivery services PepperTap last year. Even Snapdeal’s immediate rival Amazon had invested around 150 cr in home services startup Housejoy.

As per Anubhab Goel, Co- Founder & Chief Executive, Zimmber said, “Zimmber is an attractive investment opportunity and we are in active discussion with multiple investors.”

Zimmber is a brainchild of Anubhab Goel, Gaurav Shrivastava and Amit Kumar and currently claims to have over 1,000 services providers on its platform which connect consumers to service providers from various sectors such as laundry, plumbing, pest control and home cleaning etc.

The startup, which operates in the Delhi-National Capital Region, Mumbai and Pune, has also been backed by InMobi Chief Executive Naveen Tewari, Jabong's Praveen Sinha, and Akhil Chainwala and Alex Kuruvilla of Conde Nast, among others.

Jasper Infotech has also proposed for about 3 other investments before its board and the online retailer continues its aggressive investment and acquisition approach that has made it one of the leaders of country’s startup M&A leaderboard.

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