COOX, an innovative platform specializing in home services, has successfully raised $125,000 in a Seed funding round led by Inflection Point Ventures, a prominent angel investment firm based in Gurugram. This funding will allow the startup to expand its reach to 40 cities across India, enhance its marketing efforts, and integrate artificial intelligence into its operations to streamline processes and improve user experience.

Funding Purpose and Plans for Growth

The recent financial boost is set to facilitate a significant scaling of COOX's services. With ambitions to double its operational footprint, the company is focused on increasing its customer base and enhancing its technology. By employing AI-driven solutions, COOX aims to optimize its platform, ensuring that both service providers and users benefit from improved efficiency and service quality.

COOX's diverse offerings include a wide array of home services such as professional chefs, domestic cooks, bartenders, event waiters, and cleaners. Additionally, the platform provides rental services for appliances and crockery, along with ingredient delivery and event decoration. This comprehensive suite allows customers to book everything they need for occasions ranging from intimate gatherings to large-scale corporate events.

Company Overview and Founders' Expertise

Founded in 2019, COOX has already made a mark in the home services sector, claiming to have served over 500,000 customers across 20 cities in India. The platform features more than 15 different cuisines and boasts a catalog of over 500 dishes that cater to varied culinary preferences, from traditional Indian fare to contemporary Continental selections.

The founding team comprises Akshat Gupta, who serves as the Co-Founder and CEO, Abhishek Gupta, the Co-Founder and Chief Marketing Officer, and Rajat Johri, the Co-Founder and Chief Technology Officer. Akshat Gupta holds an MBA from IMT Hyderabad and brings over a decade of experience from both startups and multinational companies. Abhishek Gupta, an MBA graduate from IMT Ghaziabad, has more than six years of expertise in marketing and operations. Rajat Johri holds a B.Tech degree from KIET and has over eight years of technical and leadership experience in the industry.

Market Potential and Vision

The Indian food services market is poised for significant growth, projected to reach $125 billion by 2030, with the catering segment alone valued at approximately ₹20,000 crores and expanding at a rate of 15% annually. However, an astonishing 97% of this market remains unorganized, primarily dominated by local operators who have yet to embrace technology.

Akshat Gupta emphasized the company's mission to modernize home services through technology, making the booking process seamless for customers. “At COOX, we are committed to transforming the landscape of home services through cutting-edge technology, ensuring seamless experiences for both customers and partners,” he stated. He further highlighted the company's commitment to creating job opportunities for gig workers in the hospitality industry, believing that “Hosts should enjoy as much as the Guests.” This philosophy drives COOX's efforts to enhance the overall event hosting experience.

Support from Inflection Point Ventures

Vinay Bansal, the Founder and CEO of Inflection Point Ventures, expressed confidence in COOX's business model. He noted that managing everyday responsibilities and hosting events often necessitate external assistance for efficient execution. Bansal praised COOX for its dual focus on everyday tasks and event hosting, which not only provides convenience but also contributes positively to the gig economy. “By using technology, COOX modernizes home services and ensures hosts can enjoy their events as much as guests,” he remarked.

As COOX embarks on this new chapter of growth, the platform stands poised to revolutionize the home services sector in India. With its commitment to leveraging technology for operational efficiency and its strong focus on customer satisfaction, COOX is well-positioned to capture a larger market share and enhance the overall experience for its users. The startup’s vision of creating memorable events while empowering gig workers illustrates its role in the evolving landscape of service-based industries. With the support of investors like Inflection Point Ventures, COOX is set to make significant strides in the coming years, bringing innovation to the hospitality sector and ensuring that every host can truly enjoy their event.