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Home salon services platform Yes Madam has raised INR 50 crore (around USD 5.2 million) in its Series A funding round, marking its first external investment. The round was led by Info Edge, founded by Sanjeev Bikhchandani, through its B8 Fund, according to filings with the Registrar of Companies.
As part of the transaction, the company issued 2,64,987 Series A preference shares at an issue price of INR 1,885 each to secure the funding.
Based on the deal, the company is valued at around INR 750 crore, or roughly USD 79 million. Following the allotment, Info Edge has acquired a 6.67% stake in the Noida-based firm.
Founded in 2016 by Mayank Arya, Aditya Arya and Akanksha Vishnoi, Yes Madam provides at-home beauty and wellness services through its app and website. The platform offers more than 200 services, including haircuts, facials, waxing, massages and manicure-pedicure treatments, delivered by trained professionals at customers’ homes. The company earns revenue by taking a commission on each booking made through its platform.
Yes Madam said the newly raised capital will be used to expand into additional cities, strengthen its network of service professionals, invest in technology and enhance customer experience. The company also aims to improve operational efficiency and move towards profitability.
The firm currently operates in over 55 cities across India, handling more than three lakh bookings every month and has onboarded over 12,000 professionals.
It competes with platforms such as Urban Company, GetLook and newer entrants like Snabbit in the growing at-home services segment.
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