Pune’s @EZMove_in raises Rs 1 crore in angel funding from HNIs
The Economic Times is reporting that Pune-based EZMove has raised Rs 1 crore in angel funding from HNIs.
Excerpts from the article:
Online home relocation service aggregator EZMove raised angel investment of Rs 1 crore from seven high networth individuals, including industrialist Hemant Bharatram, and Chicago-based Purvi Capital cofounder Ravi Srivastava, who have all invested in their personal capacity.
Founded in August last year, EZMove is an online marketplace where a user can meet a reliable packer by simply filling out an online form. The customer also receives ratings of each of these vendors based on old customer experience and also feedback based on the startup’s screening process. At a minimum, the customer gets quotations from 3-4 packers.
How are they planning on using the money?
“We will aggressively expand to smaller towns and cities, and invest on our mobile website,” said Anand Agarwal, 36, who cofounded the company with Vishwajeet Singh, who he met while working at Geometric Software. EZMove expects a revenue of Rs 12 crore by December 2014 at current run rate. The movers and packers market in India is estimated to be about Rs 10,000 crore with mostly unorganized players.
The founders Anand and Vishwajeet will be familiar to Pune techies from their earlier venture, cloud-based software development environment provider BootstrapToday.
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