Bengaluru-based relocation platform HappyLocate has raised $1.1 million (Rs 8.52 crore) in a pre-Series A round led by Inflection Point Ventures, a Gururgram-based angel investment firm. The round also saw participation from VM Ventures and RMZ Management.
Previously, The relocation startup had raised Rs 4.4 crore in a Seed round in December 2021 from Inflection Point Ventures and VM Ventures.
Founded in 2016 by Ajay Tiwari and Sainadh Duvvuru, HappyLocate says its XSAAS enables corporates to automate and manage employee relocation over just a few clicks thereby enriching the experiences and cost savings.
The startup ensures seamless relocations with 98% less delays, no false claims, transparent pricing, and insurance solutions integrated in an easy-to-use platform.
It also provides other range of value-added services such as flight booking, housing assistance, and other settling services. HappyLocate 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 Ajay Tiwari, Co-Founder & CEO of HappyLocate.
With this round of funding, The Bengaluru-based startup will focus on enhancing operational excellence and corporate reach.
Since its inception, HappyLocate has emerged as the most sought-after solution for more than 50 enterprise clients, including Fortune 500 companies. With an over 30% Quarterly growth, HappyLocate claims it manages over 1000+ relocations every month.
"As we see business growth bouncing back after 2 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," said Vinay Bansal, Founder & CEO of Inflection Point Ventures.
"HappyLocate, with a track record in this market has emerged as one of the preferred partners for enterprises to use their relocation services. 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," Bansal adds.
While the global serviceable addressable market is about $1 trillion, the Indian market is valued at around $21 billion, growing post-pandemic. HappyLocate says it is addressing a large market, which has opened post-Covid with its tech-enabled dashboard for employers, employees, and service partners to help in simplifying & standardizing operation.
Coca-Cola, ITC Infotech, Diageo, United Breweries, Airbus, Amazon, Wipro, Quick Heal, are some of its notable clients.
Follow IndianStartupNews on Facebook, Instagram, Twitter for the latest updates from the startup ecosystem.