HappyLocate Relocation Services Pvt Ltd, which runs relocation platform HappyLocate, on Wednesday said it has raised pre-Series A funding of $1.1 million (around Rs 8.52 crore) led by Inflection Point Ventures, with participation from VM Ventures and RMZ Management.
The Bengaluru-based startup plans to use the fresh money to boost its operational excellence and expand corporate reach.
Founded in 2016 by Ajay Tiwari and Sainadh Duvvuru, HappyLocate claims to be India’s first and largest relocation platform for multiple relocation services.
It enables corporates to automate and manage employee relocation over just a few clicks thereby enriching the experiences and cost savings.
The platform has also launched its line of packing materials along with providing training and support to its registered packer and mover partners.
“HappyLocate is on a mission to transform global mobility with technology and empathy. We are a customer-obsessed team and focus on significantly improving the relocation experience of India through our value system: reliability, transparency, and convenience," said Tiwari.
"As we see business growth bouncing back after two years of lull, the war for talent is making companies jump through the proverbial hoops. Many companies are hiring people from other cities and helping them relocate.
Since our last round in the company, we have seen the growth to be manifold and believe that the canvas is much bigger because, with digitally-enabled services, unorganized markets present a huge business opportunity for the company," said Vinay Bansal, Founder and CEO, Inflection Point Ventures.
According to the startup's statement, HappyLocate's clientele includes companies such as Coca-Cola, ITC Infotech, Diageo, United Breweries, Airbus, etc.
In 2020, the firm raised Rs 4.4 crore (nearly $600,000) in a pre-Series A funding round led by Inflection Point Ventures.