Yuvraj Singh, who just recently started his own VC firm named Youwecan Ventures, has now announced his first investment via the firm, into a mobile beauty and wellness startup Vyomo as a part of the startup’s seed funding round. The financials involved remain undisclosed.
Vyomo is a Mobile Beauty and Wellness Platform that utilizes Artificial Intelligence and Data Analytics to simplify the way beauty & wellness services are requested, offered and rendered. It was founded by Abhinav Khare and Poonam Marwah with an aim 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. In short, an Uber for beauty and wellness sector.
Speaking about the investment, Yuvraj Singh said,
We would like to support empowerment of millions of Beauty Professionals and help them improve their lives, income and be part of their personal milestones. (It is) a truly great product and our belief in the vision of Vyomo that the Artificial Intelligence and Data Analytics can simplify the lives of millions of Indians.
Vyomo’s mobile app for businesses, consisting salons, spas and stylists will be available for iOS and Android platform from May 2015. An app for customers will be launched in July.
The app for businesses will provide an end to end salon management software that grows and simplifies their business by providing increased traffic, CRM, ERP, EPOS, Performance Management, Booking Management and Online Presence through Data Analytics & Artificial Intelligence.
Abhinav Khare, co-founder and CEO of Vyomo, said,
Signing-up with Youwecan Ventures for securing our seed funding is an important milestone for the company, and one which will allow us to scale and expand to meet the demands of our global users. In 3 years, Vyomo will shift the paradigm of Beauty and Wellness Industry where the Stylists and Beauty Professionals will get the place they deserve.
Khare further claims that Vyomo will bring more than 1 million stylists on the platform by 2017 and improve their earnings by allowing millions of customers to instantly access and book a hassle free Salon and Spa experience.
Beauty and Wellness is a growing segment among the richer sections in India. And not just the richer, considering India’s highly celebrative and expensive weddings, Beauty and Wellness sure has a huge customer base within the country.
According to a KPMG report, Beauty and Wellness Industry in India will be US$13 billion by 2017. Within MENA region itself, it was US$25.5 billion in 2014 as per Euromonitor International.