Bengaluru-based Relocation Platform HappyLocate has raised Rs 4.4 crore in Pre-series A led by Inflection Point Ventures and with participation from VM Ventures. The funds raised will be directed towards scaling up their operations, technological upgradation, better market penetration and service expansion, the company said in a statement.
Designed exclusively for corporates, HappyLocate has pioneered both personal and commercial shifting across 15K+ pin codes in India and has been the most sought-after moving solution for corporates. It also features industry-exclusive AI-based relocation management platform that enables large organisations to automate and manage their employee relocations end-to-end. Currently, it is already serving brands like Coca Cola, United Breweries, Britannia, Titan, Quess Corp, ITC Infotech, Spar and Western Union.
According to the statement, relocation ecosystem of India has always been tricky. While the global serviceable addressable market is about $1 trillion, the Indian market is valued around $21 billion. Despite being a large ecosystem, the average customer rating of the industry as a whole is at abysmal 2.5/5.0 with the average damage-free relocation rate of 63%. However, with their customer first approach, HappyLocate fares much higher than the industry average with a strong customer rating of 4.7/5.0 and an average damage-free relocations rate at 96%.
Vinay Bansal, Founder & CEO, IPV says, “HappyLocate has carved out its USP by ensuring that the relocation is more of an experience as opposed to a dreadful task for its customers. Their customer focus makes them the only player with a full-stack solution available in a large market, covering not only packing and moving, but also housing assistance and travel assistance. We are happy to partner with them in their growth journey.”
Founded by Ajay Tiwari and Sainadh Duvvuru, Happylocate has served 10,000+ relocation requests till date. With its network of over 100 verified movers and more than 16,000 hotels across the country, it stands for an unalterable commitment to uniformity in experience across geographies. HappyLocate aims to become a one-stop-shop for all the relocation-related needs of corporates and their employees.
Ajay Tiwari, Co-Founder & CEO, HappyLocate says, “We have not just taken a V-Shape recovery but have grown 300% from last year. The new normal has given a natural boost to HappyLocate as companies are now looking for solutions that are intuitive, intelligent and that remove human dependency end-to-end.”
Sainadh Duvvuru, Co-Founder & CBO, HappyLocate, adds, “We have built systems and processes to deliver memorable and seamless relocation experience to employees and enhance productivity and cost savings to corporates.”