In a significant development for India’s home services sector, COOX has secured $125,000 in seed funding led by Gurugram-based Inflection Point Ventures. The investment marks a crucial milestone for the technology-driven platform that has served over 500,000 customers since its inception in 2019.
The funding comes at a time when India’s food services market is projected to reach $125 billion by 2030, with the catering industry alone valued at ₹20,000 crores and growing at 15% annually. Notably, 97% of this market remains unorganized, presenting a substantial opportunity for tech-enabled solutions.
COOX plans to utilize the fresh capital for ambitious expansion plans, including doubling its presence from 20 to 40 cities across India. The company will also focus on enhancing its marketing initiatives and integrating advanced AI technologies to streamline operations and improve service delivery.
Service Portfolio and Market Impact
The platform currently offers more than ten on-demand services, ranging from professional chefs and bartenders to event decoration and live entertainment. With a network of 3,000+ trained professionals, COOX has established itself as a comprehensive solution provider for both one-time events and recurring domestic services through its subscription model.
“Our vision is centered on transforming the home services landscape through technology while ensuring hosts enjoy their events as much as their guests,” says Akshat Gupta, Co-Founder & CEO of COOX. The company’s approach addresses a critical gap in the market by providing verified professionals for various hospitality needs.
Innovation and Growth Strategy
COOX’s technology-first approach includes:
– AI integration for operational efficiency
– Quality control through professional verification
– Streamlined booking and service delivery
– Comprehensive event management solutions
Impact on the Gig Economy
The platform’s expansion is expected to create significant employment opportunities in the hospitality sector. Vinay Bansal, Founder & CEO of Inflection Point Ventures, emphasizes the platform’s dual impact: “COOX not only provides convenience to users but also supports the gig economy by creating job opportunities in the hospitality industry.”
Market Opportunity and Future Outlook
With the Indian food services market poised for substantial growth and the catering industry’s current fragmentation, COOX’s tech-enabled approach positions it strategically to capture a significant market share. The platform’s focus on both event hosting and daily domestic services addresses a broad spectrum of consumer needs.
Conclusion
The successful funding round represents growing investor confidence in technology-driven solutions for India’s home services sector. As COOX expands its footprint and enhances its technological capabilities, it is poised to play a crucial role in organizing the traditionally fragmented home services market while contributing to the growth of India’s gig economy.
