Mumbai, Apr 20: Cricketer Yuvraj Singh's start-up fund Youwecan Ventures has invested an undisclosed amount in mobile beauty and wellness platform Vyomo, in a seed funding round.
This is the first investment of the Youwecan Ventures, which has a corpus of Rs 50 crore. "We would like to support empowerment of millions of beauty professionals and help them improve their lives," said Yuvraj Singh.
Vyomo aims to create a complete solution for beauty professionals to manage and grow their business through a smartphone, and customers to book appointments instantly through their mobile devices.
According to a KPMG report released in 2014, the beauty and wellness industry in India would nearly double to Rs 80,370 crore by FY18 from Rs 41,224 crore in FY13. The Vyomo mobile application for salons, spas and stylists will be available from May this year, and the customer application will be launched in July, said a company release.
In the next two years, Vyomo expects to bring more than 10 lakh stylists on the platform and improve their earnings by allowing millions of customers to instantly access and book a hassle free salon and spa experience. "Securing funding from Youwecan Ventures will allow us to scale and expand to meet the demands of our global users," said Abhinav Khare, founder and chief executive officer of Vyomo.