Singularity Ventures and existing investor Hepo NL, an investment firm based out of The Netherlands, also participated in the latest funding round, the startup said in a statement on Wednesday.
Blume Ventures launched Founders Fund in January 2021 to invest around $25,000 to $100,000 outside its core investment programme to deepen its engagement with more founders.
Mumbai-based Wify said it would use the capital to develop its technology and to invest in skilling blue-collar workers associated with the company.
Founded in 2019 by Vikram Sharma and Deepanshu Goel, Wify is in the business of on-site installation and post-purchase services to businesses and brands.
The technology platform helps brands like Ikea, Livspace, HomeLane, Amazon, and Hettich streamline and manage their orders and customers throughout the product lifecycle.
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“Unlike in the West, consumers here rely on brands for various on-site services such as measurements prior to purchase, and for installation…Wify is built to bridge this gap by providing a full-stack tech-enabled platform for brands to meet customer expectations throughout the product life cycle,” Sharma said.
The startup is currently operating in 60 cities and clocking a monthly revenue of about Rs 2 crore.
Using the latest funds, Wify also plans to strengthen its existing customer base and expand into newer categories such as smart homes, commercial spaces, and industries while increasing its geographical footprint.
“In the coming two years, our goal is to become the most trusted partner for on-site services by adding 100,000 and more technicians to our network who have been skilled, trained, and certified by us to perform high-quality professional services,” Sharma added.
Wify said it had achieved over three-times growth in revenue as of July 2022, served over 200,000 homes and skilled and trained over 3,000 technicians.
The firm raised around $2 million in its seed round in July 2021 led by Unitus Ventures.
“Wify’s superpower is investing in a great blue-collar workforce, training and skilling them to become future-ready. A typical technician on the Wify platform is able to double his/her income within a year,” said Karthik Reddy, partner, Blume Ventures.
