COOX Secures $125K in Seed Round Led by Inflection Point Ventures
- ByStartupStory | October 28, 2024
COOX, India’s prominent home services platform, has successfully raised $125K in a Seed Series round led by Inflection Point Ventures. The company, known for offering a range of professional home services such as chefs, bartenders, waiters, and more, aims to utilize this funding for expanding its operations to 40 cities. Additionally, COOX will focus on enhancing its marketing efforts and implementing artificial intelligence to strengthen its technological capabilities and streamline operations.
Established in 2019, COOX has served over 5 lakh customers, providing a versatile selection of home services tailored for occasions including house parties, weddings, and corporate events. The company has developed a network of over 3,000 trained professionals and offers a menu of more than 500 dishes spanning 15 different cuisines, ranging from Indian to Continental. COOX’s innovative approach aims to revolutionize the home services industry by modernizing service delivery and creating job opportunities in the gig economy, particularly in the hospitality and events sector. The company’s guiding principle, “Hosts should enjoy as much as the guests,” underscores its mission to make event hosting seamless and enjoyable.
Akshat Gupta, Co-Founder & CEO of COOX, expressed enthusiasm about the company’s mission: “At COOX, we are committed to transforming the landscape of home services through cutting-edge technology, ensuring seamless experiences for both customers and partners. Our aim is to provide not only exceptional service to clients but also create significant employment opportunities for gig workers in the hospitality industry. We passionately believe that ‘Hosts should enjoy as much as the Guests,’ and we work tirelessly to bring this vision to life, enabling every event to be a memorable and enjoyable experience.”
The investment from Inflection Point Ventures further solidifies COOX’s position in the home services sector. Vinay Bansal, Founder & CEO of Inflection Point Ventures, emphasized the value COOX brings to the lives of its customers and the gig economy: “Managing everyday responsibilities or hosting events often requires external help for smooth management. A service provider like COOX that assists with both day-to-day tasks and event hosting makes life easier, allowing individuals to relax and enjoy their time. Not only does it provide convenience, but it also supports the gig economy by creating job opportunities in the hospitality industry. By using technology, COOX modernizes home services and ensures hosts can enjoy their events as much as guests. COOX aligns perfectly with IPV’s commitment to backing tech-driven solutions that make a tangible impact.”
Operating in 20 cities, COOX currently offers over ten different event and home services, including chefs, bartenders, cleaners, and more. The platform also provides a monthly subscription service for domestic cooks, ensuring a full suite of solutions to cater to various customer preferences and needs. The recent funding will help COOX double its presence to 40 cities, allowing it to serve an even wider audience and enhance its operational footprint across the country.
COOX’s founders bring a wealth of experience to the table. Akshat Gupta, Co-Founder & CEO, holds an MBA from IMT Hyderabad with a background in startups and multinational companies. Abhishek Gupta, Co-Founder & CMO, also an MBA from IMT Ghaziabad, has specialized in marketing and operations. Rajat Johri, Co-Founder & CTO, with a B. Tech degree from KIET, brings over eight years of technical and leadership expertise.
COOX has achieved a notable milestone by becoming profitable while bootstrapped, highlighting its sustainable business model. With a large part of the Indian food services market remaining unorganized, COOX sees an opportunity to fill this gap. The Indian catering industry, valued at ₹20,000 crore, is growing annually by 15%, and COOX aims to lead this transformation by leveraging technology.
With a mission to provide convenient and reliable services, COOX is well-positioned to capitalize on the burgeoning demand for organized home services, bringing modernized solutions to an otherwise fragmented market.
About COOX
COOX is India’s leading platform for booking home services, providing customers with professional chefs, bartenders, waiters, cleaners, and more, as well as event hosting solutions. Since its inception, COOX has served a substantial client base and built a network of verified professionals, making it the go-to platform for home services and event hosting.
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