On-demand beauty service provider BigStylist has raised Rs 8 crore from its existing investor Info Edge in an another round of funding.
Info Edge, which runs internet properties such as Naukri, Shiksha, 99acres and Jeevansathi among others, has so far invested Rs 20.4 crore in the Mumbai-based company, reported Medianama.
Now, Info Edge holds 49.37% stake in BigStylist with the latest infusion via compulsorily convertible debentures.
BigStylist (Green Leaves Consumer Services Pvt. Ltd) incorporated in the year 2015 by IIT alumni Richa Singh, Chinmaya Sharma and Anurag Srivastava. It allows customers to order beauty services at home through its website, Mobile app and phone calls and WhatsApp.
Operating across all areas of Pune and Mumbai, BigStylist provides beauty, wellness and grooming services for both men and Women.
Besides BigStylist, Info Edge holds stakes in several technology firms such as food-tech firm Zomato, coupons site Mydala, online insurance policy aggregator PolicyBazaar, e-learning firm Meritnation and online photography startup Canvera Digital Technologies.
BigStylist competes with several startups including Chandigarh-based Bulbul, Delhi-based VanityCube startup, Mumbai-based Belita and Bengaluru-based StayGlad, including others.
Traditionally, the on-demand wellness industry, which claims to be untouched by technology, is growing at fast pace with smooth customer experience and high demand in the middle class.
The company claims a revenue of Rs 5-6 Cr and served close to 50,000 orders in the last fiscal year. According to the KPMG Report, the market size of India’s beauty and wellness industry would nearly double to Rs 80,370 crore by 2017-18 from Rs 41,224 crore in 2012-13.