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Hyper-local professional services start-up, Qyk, has announced a $1-million pre-series A investment led by grow{+x} ventures, a Delhi-based, early stage investment firm. Existing seed investors — Tracxn Labs, Powai Lake Ventures, and Sahil Barua (Co-founder, Delhivery) also participated in this round.
Qyk was founded by alumni of IIT Bombay and IIT Kharagpur — Deepak Singhal, Sangharsh Boudhh, Shobhit Singhal, and Anubhav Sahoo, who have worked with companies such as Ola, Inmobi, Practo, and Deutsche Bank.
Qyk helps customers find the best, verified service providers for over 100 categories of professionals — from piano teachers to tax consultants through photographers and dietitians, in the quickest time possible. Qyk also enables freelancers and professionals to grow their business by reaching out to new and interested customers. The app uses algorithms to intelligently match demand and supply based on parameters such as specific requirements, location, availability, and budget.
Speaking about the investment, Ashish Taneja, MD, grow{+x} ventures, said, “The traditional approach to finding service providers via listings is painful, and broken, and leaves both the consumer and the service provider dissatisfied. Qyk is here to change that and dramatically improve the experience of finding any kind of professional help. We’ve already seen this model see huge success in the US with Thumbtack, and believe that the Qyk team will make this succeed in India.”
Since starting operations in March 2015 in Bangalore, Qyk has grown to an over 70-member team and expects to scale up to over 200 in a year’s time. Qyk now has over 10,000 professionals across 100 categories and handling hundreds of requests every day. They are live in Bangalore, Mumbai, and Delhi and have plans to expand in a few other cities over the next six months.
Deepak Singhal, CEO, Qyk, said: “We are delighted to have grow{+x} as an investor — they believe in our model and our long-term vision of building a frictionless and efficient marketplace for local services. It is also heartening to see our seed investors backing us again."
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