Online beauty service marketplace Bigstylist has raised Rs8 crore funding in its latest round, led by Info Edge. It is now planning to expand its operations to New Delhi.
Bigstylist, an online beauty service provider has announced that it has raised ₹8 crore funding in its latest funding round, led by Info Edge. BSE filing reveals that the amount has been invested via compulsorily convertible debentures (CCD).
With the new funding coming in, BigStylist is looking to set up shop in Delhi NCR, and is also hoping to break even in the two cities it currently operations in, Mumbai and Pune. Earlier, in September 2016, BigStylist had secured $900,000 from the Delhi-based company. With this investment, Info Edge’s stake in the startup has now been increased to around 49.37%, from the earlier 39%.
Founded in July 2015 by IIT Kharagpur graduates Richa Singh, Chinmaya Sharma, and Anurag Srivastava, Bigstylist is an on-demand beauty and wellness services marketplace registered under Green Leaves Consumer Services Pvt. Ltd.
The startup is currently operating in all locations within Pune and Mumbai. It is offering customers access to experienced stylists and beauticians through the website, the Android app as well as WhatsApp.
Using the service, users can place orders, and also book at-home appointments with beauty experts and stylists. The company promises efficient and fast delivery of services in less than one hour.
As per the report from Indian Beauty and Hygiene Association (IBHA), Google India and Bain and Co., India’s beauty and wellness space are expected to grow into a $17 billion industry by 2020.
