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FUNDING

On demand personal service startup DoneThing gets funded

DoneThing is a Gurgaon – based personal service startup. It was founded by Karan Saharan, Chetan Agarwal, Sonal Saraogi, and Rohit Pansari in the year 2015. The startup on Monday (27/03/2017) announced that it had raised funds amounting to US $300,000 from the investment arm of the media company Bennett, Coleman and Co. Ltd., Brand Capital. The founders of the startup said that the funds raised through the investment would be used to expand the startup’s services to new locations. DoneThing enables its customers to hire personal assistants who run various errands for them like purchasing medicines, personal care items, groceries, to completing tasks like collecting laundry, pick up & drop of documents/invoices, cheque deposits, repair of shoes/electronics, notary and government ID work to finding neighborhood professionals like electrician, driver on demand or any kind of help like planning travel and cab bookings for a fee depending on the startup’s rate card. This saves a lot of time for its customers who can do numerous other important jobs in the meantime. Read more on Investments

“This investment is a significant step in propelling the brand to newer heights with core focus on brand building and leveraging the media publications. The company intends to go aggressive in print, radio & digital, thereby increasing its customer base, building brand awareness and encourage service trials. The company projects 700 per cent growth in revenues for the FY 2017-18”, the company said in a statement.

One of the co – founders of DoneThing, Karan Sharan said, “We are constantly on the look – out for innovative ways to enhance the user – experience and widen our offerings. Our vision is to change the way people spend their time, giving them the power to do more via delegation. We intend to give them access to a support system, available at their disposal to carry out the mundane tasks, thus freeing up their time to focus on the bigger things in life. With this fresh round of funding, we are aiming at a two-pronged approach- tapping newer geographies like Bangalore and Mumbai and making our presence in the Delhi NCR market more robust. This deal is a precursor to the bigger funding round to follow”.

“DoneThing addresses a very interesting problem and has a huge market to cater to. The team is a unique mix of professionals from different backgrounds. They have done a stupendous job in building the product and got a good traction in the business. We are convinced that this team will go a long way in profitably scaling up DoneThing”, Brand Capital’s spokesperson said.

DoneThing is one among the few startups who provide personal assistance. This sector of startups has seen growth in the past few months, especially after the demonetization move. Prior to this investment from Brand Capital, DoneThing had raised an investment of US $230,000 from the Hong Kong – based Swastika Co. Ltd. in March 2016. People these days lead very fast and busy lives. Many people simply don’t have the time to do mundane tasks and cater to their busy schedule at the same time. Hence, it would make a lot of sense for them to hire someone who can do the mundane tasks for them, thereby freeing up a lot of their time which they can utilize to do other important tasks. This is a promising sector, given how much the population of India (and the world in general) has grown and given how industrialized and urbanized the cities of India (and the world in general) have become. There is sure to be a lot of demand for startups belonging to this sector which will fuel their growth in the coming years. The Government of India must create a business friendly environment in India and fund and promote more of such useful and innovative startups like DoneThing. Read more on Startup News

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On demand personal service startup DoneThing gets funded
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