Dharana Capital Invests INR 400 Cr in Urban Company Founder and Managing Partner of Dharana Capital, Vamsi Duvvuri, will join Urban Company's board as a Non-Executive Director.
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Venture capital firm Dharana Capital announced that it has acquired shares worth over INR 400 crore (~USD 50 million) in home services platform Urban Company through a significant secondary transaction.
The shares were acquired from employees and other shareholders, marking the largest ESOP liquidity in the company's history.
Founder and Managing Partner of Dharana Capital, Vamsi Duvvuri, will join Urban Company's board as a Non-Executive Director.
Abhiraj Singh Bhal, CEO and Co-founder of Urban Company, said, "We are very excited to partner with Dharana Capital and have Vamsi Duvvuri join our Board of Directors. Vamsi has been a strong partner of Urban Company for a long time, and we look forward to working with him even more closely in the future."
Urban Company operates in 62 cities across India, the UAE, Singapore, and Saudi Arabia. The company claims to have a partner network of over 55,000 hand-picked service professionals who have been trained into organised and high-quality microentrepreneurs.
Vamsi Duvvuri, Founder and Managing Partner, Dharana Capital, said, "Urban Company, with its full-stack approach and focus on partner enablement, has built a strong, capital-efficient, and durable business in a challenging local services market. We remain deeply impressed with the focus and execution of the UC founders and team. We look forward to continuing to support them in their endeavor to build a long-lasting institution."
Dharana Capital's current investments include Urban Company, Zopper, Lentra, NoBroker, and Itilite.
