Wify (Installco Wify Technology), a home improvement and maintenance services platform, has raised ₹25 crores in its pre-Series A funding round led by Mount Judi Ventures and existing investor Capria Ventures.
Blume Founders Fund and other existing investors also participated in this round. Pidilite Ventures, a wholly owned subsidiary of Pidilite Industries, also participated in the round and invested ₹5 crore.
Wify plans to utilize the funds to penetrate deeper into existing categories with more value-added services, expand into new categories, and accelerate capacity building, software, and technology enhancements. The company will also focus on hiring leaders to strengthen its management team and enhance corporate governance.
Wify also plans to leverage Generative AI for training and onboarding of workmen, on-job assistance, and elevating customer service. The company, with 3,000 technicians enlisted on its platform, operates across 100 cities in India and has partnerships with more than 100 leading global and local brands including IKEA, Amazon, Godrej, and Hettich.
Vikram Sharma, CEO, Wify, said, “We are thrilled about securing this investment as it marks a pivotal moment in our journey. The round was significantly oversubscribed, highlighting the strong appeal of Wify’s business model and the high level of interest in the company’s potential. This funding will help accelerate our growth through technology deployment and inorganic growth opportunities. It will help realize our vision of becoming the number 1 brand for upgradation, repair, and maintenance of urban homes.”
Ebaad Momin, Partner at Mount Judi Ventures, said, “Wify’s full-stack B2B2C solution has gained significant traction in the home improvement and maintenance space because it effectively addresses a critical market need. We are thrilled to partner with Wify, which is tackling a substantial challenge at scale and generating stable employment opportunities to contribute to India’s growth story.”
Surya Mantha, Managing Partner, Capria Ventures, said, “As early investors in Wify, we’ve witnessed the company emerge as the number 1 after-sales installation and SaaS solutions provider in the furniture and fittings industry. We are confident about the team’s ability to “own the home” by expanding into other use-cases like smart homes, appliances, plumbing, etc. We are pleased to have Mount Judi Ventures join us as partners in this journey. Wify is poised for exponential growth in the coming years, leveraging technology to unlock a massive market opportunity and addressing the worker upskilling challenge for the country.”
