Instant House-Help Startup Pronto Secures $20 Million, Valuation Reaches $200 Million
Instant house-help startup Pronto bags $20 million as valuation doubles to $200 million
The Economic TimesImage: The Economic Times
Pronto, an instant house-help startup based in India, has raised $20 million from US investor Lachy Groom, doubling its valuation to $200 million. The funding will primarily focus on scaling supply to meet rising demand in a competitive market, which includes plans to expand its services in major Indian cities.
- 01Pronto's valuation has doubled to $200 million following a $20 million funding round.
- 02The startup aims to enhance supply and expand services in major cities like Delhi-NCR, Mumbai, and Bengaluru.
- 03Pronto reported a 40% increase in monthly orders in April, with an average order value of โน130-140.
- 04The home services market in India is projected to grow at a compound annual growth rate of 18-22% by FY30.
- 05Competition is intensifying in the instant house-help sector, with rival Snabbit recently raising $56 million.
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Pronto, an instant house-help startup based in India, has successfully raised $20 million (approximately โน189 crore) from US investor Lachy Groom, increasing its valuation to $200 million. This funding round is part of a larger effort, as it follows a previous $25 million funding round that valued the company at $100 million. Founder Anjali Sardana stated that the capital will primarily be used to scale supply, which is crucial given the recent 40% surge in monthly orders due to increased demand. Pronto is also expanding its services beyond house help, with plans to launch a home cooking service in Bengaluru after introducing a car washing service in Gurugram and Mumbai. The competitive landscape is intensifying, with rival Snabbit recently securing $56 million in funding, reflecting the growing demand for instant house-help services. According to a report by Morgan Stanley, the home services market in India is expected to grow at a compound annual growth rate of 18-22%, reaching approximately โน8,500-8,800 crore by FY30.
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This funding will enable Pronto to improve service availability and expand its offerings, potentially increasing job opportunities for professionals in the home services sector.
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