Home services platform COOX raises $125,000 in funding led by Inflection Point Ventures

  • Funding and Expansion: COOX, a home services booking platform, raised $125,000 in a Seed funding round led by Inflection Point Ventures, with plans to expand its presence to 40 cities and enhance marketing and technology integration using AI.

  • Diverse Service Portfolio: The platform offers a wide range of home services, including professional chefs, bartenders, cleaning services, and event decoration, catering to various customer needs for parties and events, and has served over 500,000 customers since its inception in 2019.

  • Job Creation and Technology Integration: With over 3,000 trained professionals, COOX aims to modernize home services through technology while creating job opportunities for gig workers in the hospitality sector.

  • Founders’ Experience: The startup was co-founded by Akshat Gupta (CEO), Abhishek Gupta (CMO), and Rajat Johri (CTO), who bring extensive experience in business, marketing, and technology.

  • Market Potential: The Indian food services market is projected to grow to $125 billion by 2030, with a significant unorganized segment offering COOX opportunities to leverage technology for better service and convenience in event management.

COOX, a platform for booking home services, has raised $125,000 in a Seed funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm.

The startup aims to deploy the funds for city expansion, doubling its current footprint to 40 cities, while increasing marketing activities and integrating AI to fortify its technology and streamline operations.

COOX’s offerings

COOX operates a platform for booking home services such as professional chefs, domestic cooks, bartenders, waiters, cleaners, appliance rentals, crockery rentals, ingredients delivery, event decoration, and live singers for occasions like house parties, weddings, corporate events, and more.

Since 2019, the startup claims to have served over 5 lakh customers, offering a range of 15+ cuisines and 500+ dishes from Indian to Continental.

With 3,000+ trained professionals, it aims to modernize home services via technology and create jobs for gig workers in the hospitality and events sector. Its vision is: “Hosts should enjoy as much as the guests.”

Who are the founders?

Akshat Gupta, Co-Founder & CEO, holds an MBA from IMT Hyderabad and brings over 10 years of experience working with both startups and multinational corporations.

Abhishek Gupta, Co-Founder & CMO, is an MBA postgraduate from IMT Ghaziabad with more than 6 years of expertise in marketing and operations with startups and MNCs.

Rajat Johri, Co-Founder & CTO, holds a B. Tech degree from KIET and has over 8 years of technical and leadership experience. 

COOX’s market presence

COOX said it operates in 20 cities across India, offering a diverse range of over 10 on-demand event hosting and house party services.

These services include professional chefs, bartenders, waiters, kitchen cleaners, ingredients delivery, appliance rentals, crockery rentals, event decoration, and live singers.

Additionally, the startup provides a monthly subscription service for domestic cooks. This comprehensive suite of home services encompasses both cooking solutions and event hosting, catering to various customer needs and preferences.

“At COOX, we are committed to transforming the landscape of home services through cutting-edge technology, ensuring seamless experiences for both customers and partners,” said Akshat Gupta.

“Our aim is to provide not only exceptional service to clients but also create significant employment opportunities for gig workers in the hospitality industry. We passionately believe that ‘Hosts should enjoy as much as the Guests,’ and we work tirelessly to bring this vision to life, enabling every event to be a memorable and enjoyable experience,” Gupta added.

Food services market landscape

The Indian food services market is anticipated to reach $125 billion by 2030, driven by robust growth in various segments. The catering industry alone is valued at approximately ₹20,000 crores, expanding at a rate of 15% annually.

However, a striking 97% of this market remains unorganized, primarily dominated by local operators who are yet to leverage technology. 

Vinay Bansal, Founder & CEO of Inflection Point Ventures, said, “Managing everyday responsibilities or hosting events often requires external help for smooth management. A service provider like COOX that assists with both day-to-day tasks and event hosting makes life easier, allowing individuals to relax and enjoy their time. Not only does it provide convenience, but it also supports the gig economy by creating job opportunities in the hospitality industry. By using technology, COOX modernizes home services and ensures hosts can enjoy their events as much as guests. COOX aligns perfectly with IPV’s commitment to backing tech-driven solutions that make a tangible impact.”


Here is the summarized information regarding the funding round for COOX:

Funds:

  • Amount Raised: $125,000
  • Funding Round: Seed

Investors:

  • Lead Investor: Inflection Point Ventures (IPV), an angel investment firm based in Gurugram.

Startup:

  • Name: COOX
  • Business Model: A platform for booking home services, including professional chefs, domestic cooks, bartenders, cleaners, appliance rentals, and event decoration services.

Founders:

  1. Akshat Gupta

    • Position: Co-Founder & CEO
    • Education: MBA from IMT Hyderabad
    • Experience: Over 10 years in startups and multinational corporations.
  2. Abhishek Gupta

    • Position: Co-Founder & CMO
    • Education: MBA from IMT Ghaziabad
    • Experience: More than 6 years in marketing and operations with startups and MNCs.
  3. Rajat Johri
    • Position: Co-Founder & CTO
    • Education: B. Tech from KIET
    • Experience: Over 8 years in technical and leadership roles.

Fundraise Series:

  • Current Funding Series: Seed round.

This information encapsulates the key details related to COOX’s funding, the involved parties, and their roles.

Source link