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Amazon Just Invested In The Indian Version Of Homejoy

December 16, 2015, 1:31 AM UTC
INDIA-ECONOMY-AMAZON-BEZOS
US founder and CEO of Amazon.com Jeff Bezos poses on a lorry after handing over a two billion dollar cheque to Indian Vice President and Country Manager of Amazon.in, Amit Agarwal (unseen) in Bangalore on September 28, 2014. The investment will go towards raising the bar for online shopping in India. AFP PHOTO/Manjunath KIRAN (Photo credit should read Manjunath Kiran/AFP/Getty Images)
Photograph by Manjunath Kiran — AFP/Getty Images

E-commerce giant Amazon has made it clear that India is one of its fastest growing markets and a target of huge investment. The company is reportedly readying a $5 billion war chest to expand into the rapidly developing country.

Late Tuesday, Amazon made just its latest bet on India by announcing that it had led a $22 million investment round in a startup with a familiar name and purpose, Housejoy. It is the Indian version of the now defunct U.S.-based Homejoy, the on-demand house cleaning service.

In addition, Housejoy offers in-house computer repairs, beauty treatments, bridal services, maintenance and home repairs to Indian consumers. The company had previously raised $4 million from Matrix Partners India.

Along with Amazon (AMZN), new investors in Housejoy include Qualcomm, Vertex Ventures and Ru-Net technology Partners.

“Housejoy seeks to provide customers with a differentiated experience in shopping for home services,” said Amit Agarwal, vice president and country manager for Amazon India. “This aligns with our mission in India—to transform the way India buys and sells. We are excited to back the Housejoy team that shares our obsession for inventing on behalf of customers with a long term focus.”

Housejoy said that the new funds will be used for acquisitions, and for expansion into new Indian cities. It’s valuation in the funding round was not disclosed.

This isn’t the first Indian company Amazon has invested in the past year. In July, Amazon backed BankBazaar, a financial technology company that aggregates information about credit cards and loans. Last year, the e-commerce company also invested in gift card startup Qwikcilver.

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