Taxiforsure co-founder Aprameya Radhakrishna 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.
Vyomo is his maiden investment. Explaining his excitement, Radhakrishna said
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.
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
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 also being launched ahead of its schedule today. Within the first 4 weeks, Vyomo has already brought 1500 Salons and Spa on on-board.
Abhinav Khare, Founder & CEO Vyomo added
For us, the quality and customer experience is more important than to bringing short term traction. We are spending a fair amount of time with each of our salons on training and hand-holding for Beauty Professionals, before they start accepting bookings through Vyomo. We want our customers to receive exceptional experiences. Our team is working extremely hard to bring more than 1M stylists on the platform by 2018
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.
About Vyomo
Vyomo is a Mobile Beauty and Wellness Platform that is backed by Artificial Intelligence and Data Analytics to simplify the way beauty & wellness services are requested offered and rendered. It was founded by the London Business School classmates Abhinav Khare and Poonam Marwah.
- Abhinav Khare Founder-CEO is Strategy and Corporate Development Expert with 10 years’ experience in 3 continents and 32 countries in the domain of Market Entry, Strategy Execution and Building Analytics products. He has an MBA London Business School and MSc in Technology Management from ETH Zurich.
- Poonam Marwah Co-founder-COO has got 16 years Operations, Internet Marketing & Technology. Successfully lead 3 new ventures, growing organizations and managed complex projects. She holds MBA from London Business School, Masters in Computer Application, PMP, she is also a US Patent Holder.
[Image Credit – Vyomo]