Total amount raised
$600 Thousands
Latest funding date
01/01/2022
Location
Broomees has successfully raised funds through a Seed round, with the last funding round closing on January 27, 2022. The company has attracted investment interest from notable investors, including Asad Daud, MAGIC Fund, and ST2.
Keep reading to explore the intricacies of Broomees' fundraising journey and the investors backing this innovative platform.
What Is Broomees?
Broomees, founded in 2020, is based in Delhi, India. The company specializes in providing training and employment for domestic workers, including housemaids, babysitters, and cooks. They offer a range of services such as health insurance for workers and background checks.
Broomees ensures that all domestic workers are vetted and verified, providing a transparent and smooth hiring process for households. The company also offers a replacement policy if clients are not satisfied with the service provided by the domestic workers.
With a workforce of 101-250 employees, Broomees is committed to delivering experienced and pandemic-ready domestic help. Although the founders' names are not explicitly mentioned, the company's mission and services are clearly outlined on their website.
How Much Funding Has Broomees Raised?
- Seed Round
- Amount Raised: $600,000
- Date: January 2022
- Lead Investors: 2 AM VC, MAGIC Fund, 100X.VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To set up training and registration centers, improve user experience, and automate processes through their app and web platforms.
Total Amount Raised: $600,000. Current Valuation: Not publicly disclosed.
Key Investors
The major investors in Broomees are as follows:
- 100X.VC
- Details: 100X.VC is an Indian venture capital firm that invests in early-stage startups. They include Broomees in their portfolio as part of their Class 06 batch.
- Investment Focus Areas: Early-stage startups, scalable business models, impactful business models.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- 2 AM VC
- Details: 2 AM VC is a USA-based micro VC that focuses on startups with unique approaches to standardizing and professionalizing large workforces.
- Investment Focus Areas: Startups, workforce standardization, professionalization.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- MAGIC Fund
- Details: MAGIC Fund is a USA-based micro VC that typically invests in early-stage startups with innovative business models.
- Investment Focus Areas: Early-stage startups, innovative business models.
- Notable Investments: Specific notable investments are not mentioned in the sources.
Information about other major investors and their notable investments was not found in the provided sources.
What's Next for Broomees?
Broomees is poised to capitalize on the growing demand for well-trained domestic workers. With plans to expand their services across Delhi & NCR, they aim to bring 100,000 workers into the formal economy. This expansion presents a significant opportunity for growth, especially as the need for professional house help continues to rise.
Given their successful seed round, future fundraising seems likely as they scale operations. Investors are likely to be attracted by the company's potential to formalize the domestic workforce sector and leverage technology to enhance user experience. However, challenges such as maintaining consistent quality and navigating the unorganized nature of the sector could pose hurdles.
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