The firm, YouWeCan has put in an undisclosed amount as seed funding in a yet to be launched mobile-centric beauty and wellness platform named Vyomo. This is the first ever funding of Yuvraj Singh’s recently launched startup fund, YouWeCan Ventures.
Vyomo is a mobile app service for salons, spa and stylists and will be available for both iOS and Android from May 2015. The online platform plans to list about 5,000 spas in Delhi-NCR, Mumbai, Bengaluru, Chennai and Dubai, and will also bring more than one million stylists on board by 2017.
The app will work as an on-the-go search, discover, book, pay and rate platform. Consumers can search spas and salons based on their desired location and cost preferences. One can also read customers reviews, compare prices and rate a particular outlet or stylists.
Vyomo will compete with the likes of Mumbai-based Purplle and Nykka. Purplle, which is a beauty and skincare e-retailer recently secured over $5 million in its series A round from IvyCap Ventures in January and Nykka, too, raised $3.4 million led by an unknown business family in June 2014.
As per Abhinav Khare, Founder & CEO, Vyomo, the recent tie-up with YouWeCan Ventures for securing their seed funding is an important milestone and this shall allow them to scale and expand to meet the demand of their customers globally.
Yuvraj Singh is planning to invest around 50 crore, mostly his own money in the coming 3-5 years in YouWeCan Ventures, while the total fund is expected to raise about 300 crore from other investors during this period.