Monday, July 15, 2024

Yes Madam: Startup Secures ₹1.5 Crore on Shark Tank India; More Details Here

Share post:

Yes Madam, a platform revolutionizing beauty and spa services at home, has secured Rs 1.5 crore funding on Shark Tank India. The company, known for its commitment to convenience and transparency in the beauty and wellness industry, is reshaping the way salon services are accessed in India.

The founders of Yes Madam, namely Arpit, Akansha, Mayank, and Aditya, bring diverse backgrounds and skills to the table, united by a common goal of addressing challenges in the beauty industry. Their vision is not only about business but also about overcoming personal obstacles to create a meaningful impact.

Yes Madam was born out of a need to solve various issues in the traditional salon industry, including difficulty in making appointments, untrained professionals, and the use of fake products. The platform offers a solution where customers can easily book salon services to be provided at their homes, ensuring trained professionals and authentic products for both convenience and quality.

Yes Madam Funding Photo

Despite the presence of established players like Urban Company, Yes Madam has found its niche by being transparent about product costs and giving customers the freedom to select their preferred products. This customer-centric approach sets it apart in the market.

During their pitch on Shark Tank India, Yes Madam’s founders sought Rs 1.5 crore in exchange for 0.5% equity, valuing the company at Rs 300 crore. After negotiations, investors including Aman Gupta, Piyush Bansal, Ritesh Agarwal, and Vineeta Singh agreed to invest Rs 1.5 crore for a 2% equity stake, with a 2% royalty until the investment is recouped, at a revised valuation of Rs 75 crore.

Looking ahead, Yes Madam aims to expand its footprint across India, aspiring to become the nation’s largest salon tech company with both online and offline presence. Additionally, the company is committed to enhancing the professional and personal lives of its partners, fostering a sustainable ecosystem that benefits all stakeholders.

Join our new WhatsApp Channel for the latest startup updates.

Related articles

Myntra Partners with Twid to Allow Reward Points Payments for Shopping

Myntra has partnered with Twid to allow customers to use their reward points for shopping. This collaboration enhances customer experience by increasing purchasing power and improving order fulfillment rates, benefiting both Myntra and its customers.

Signature Global to Launch Rs 13,000 Crore Housing Projects

Signature Global, a leading real estate firm, is set to launch multiple housing projects worth around Rs 13,000...

Felicity Games Raises $700K in Funding Led by DeVC and Visceral Capital

Felicity Games, a Bengaluru-based developer and publisher of casual mobile games, has secured $700K in a pre-seed funding...

Vidyut Launches Offline Platform for Pre-Owned EVs Sales and Financing

Bengaluru-based electric mobility startup Vidyut has introduced an offline platform dedicated to the sale and financing of pre-owned...