Bangalore-based Qyk Inc., which runs mobile marketplace for local services Qykapp, has raised an undisclosed amount in angel funding from a group of investors, including Zishaan Hayath, co-founder, Toppr.com; Abhishek Goyal, co-founder, Tracxn.com; and Delhivery co-founder Sahil Barua, as per a company statement.
It will use the funds to expand into more cities, launch an iOS app, as well as for product development.
"We will expand to Mumbai and Delhi in the next three months, and by the year end we are planning to be present in top eight cities in the country," said Deepak Singhal, co-founder and CEO, Qyk.
The company was founded in October 2014 by IIT-ians Singhal, Sangharsh Boudhh, Shobhit Singhal and Anubhav Sahoo. Sahoo earlier worked at 24/7 Inc., while Singhal has previously worked at JP Morgan, Deutsche Bank and Practo. Boudhh worked at Avaya India, Webaroo Technology and Olacabs prior to founding the startup. Shobhit had earlier worked at Nomura, UrbanTouch, FashionAndYou and InMobi.
Qyk is a mobile platform that enables customers to hire service providers and professionals near their area. These includes service providers for things like wedding photography, learning a new language or planning a birthday party, besides CAs, interior designers, and education or tax consultants, etc. It also enables customers to compare and get competitive quotes.
“Local services solutions market is ready to be disrupted. We need a mobile solution like Qyk to help businesses grow and enable customers to find the right service providers,” said Hayath.
“Qyk is an idea that helps us find local services that are more professional in nature. There are two large plays in local services—on-demand and reverse auction. Reverse auction business model is largely a technology play. Qyk’s approach of solving this problem via a mobile first product gives them an advantage to be the market leader,” added Goyal.
(Edited by Joby Puthuparampil Johnson)