Startup City Magazine

India's First Angel-backed Accelerator VentureNursery Powers Fixy's Seed Funding

Bengaluru: It’s been an extraordinary year where numerous startup have raised financing through various sources. With these on-going fundraising activities, an on-demand home maintenance service provider, Fixy has joined the sequence by raising an undisclosed amount of seed funding from VentureNursery, India’s first angel-backed startup accelerator. With this investment, the platform is planning to create an integrated technology infrastructure for customers and vendors as the platform automation will help the company to scale up its operations leading to efficiency improvement.

With an aim to become the finest  home maintenance services market of India by providing the most systematic flow of work for Handymen and Vendors, Fixy was incepted by the Management expertise - Nabeel Merchant with his Marketing Professional twin brother Tufayl Merchant in 2014. The company is currently operating in the western line of Mumbai, specifically from Church gate to Borivali. Today, the firm aims to capture a significant part of India’s Rs.10,000 crore home maintenance service markets by instilling in service providers, including plumbing, electrical and repair of white goods such as refrigerators, washing machines, microwave ovens and other home appliances.
On the other hand, VentureNursery was established in 2012 by two like-minded Angel Investors – Shravan Shroff – Founder & Ex-MD, Fame Cinemas and Ravi Kiran – Ex-CEO-South East & South Asia, Starcom MediaVest Group and Co-Founder & Managing Partner of Friends of Ambition. The company is focusing on maximizing the success potential of the startups and attempts to escalate and immersive coaching and mentoring role in the chosen startups and helps each with end-to-end infrastructural and learning support.

VentureNursery currently conducts four boot camps a year in Mumbai and accommodates two startups in each. However, by the end of each program, startups graduating successfully are evaluated for investment by VentureNursery’s members, a strong group of committed and seasoned angel investors.

Speaking of VentureNursery’s acceleration program, Tufayl Merchant, Co-Founder, Fixy, says, “We gained tremendously from the collective experience and diverse perspectives of VentureNursery mentors and members, each a stalwart in his own field. I believe we are prepared for the real world issues of setting up and scaling a start-up”.

Vishal Maheshwari, VentureNursery member & Former Senior Director, Yahoo! India, says, “VentureNursery’s selection process is designed to identify passionate and motivated founders who are out to solve real life problems of customers. At the end of the intensive 13-week BootCamp, Fixy’s founders Tufayl and Nabeel convinced VentureNursery members of their preparedness to disrupt the Home Maintenance Services space”.

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