DoneThing, an on-demand personal assistant service, has announced that it has received $300,000 of funding from Brand Capital which will be used for geographical growth and service expansion. Brand Capital is the investment arm of media conglomerate Bennett, Coleman and Co. Ltd. and has helped build over 850+ indigenous brands into iconic brands through a sustained brand building effort, providing critical leverage for enterprise growth and value creation. They provide a platform for entrepreneurs to invest in, contribute to ‘Intellectual Capital’ thus supporting the creation of a brand strategy and planning media-spread to optimize value.
DoneThing, an affordable task management solution, is one of the most efficient productivity tool in the market to enhance user lifestyle. The start-up aim to revolutionise the way people delegate daily chores by making personal assistance easily available to the urban middle class. DoneThing has a strong operational wing, which helps them execute even the most cumbersome of tasks with ease. The company is focusing on unit economics and has been running operationally profitable since last 02 quarter. With a strong road-map of product enhancement and additions in features, DoneThing is sure to bring much value addition to their brand.
Commenting on the announcement, Mr. Karan Saharan, Co-Founder, DoneThing said “We are constantly on the look-out for innovative ways to enhance the user-experience and widen our offerings. Our vision is to change the way people spend their time, giving them the power to do more via delegation. We intend to give them access to a support system, available at their disposal to carry out the mundane tasks, thus freeing up their time to focus on the bigger things in life. With this fresh round of funding we are aiming at a two-pronged approach: a) tapping newer geographies (like Bangalore & Mumbai) and b) making our presence in the Delhi NCR market more robust. This deal is a precursor to the bigger funding round to follow.”
This investment is a significant step in propelling the brand to newer heights with core focus on brand building and leveraging the media publications for advertising under the Times Group. The company intends to go aggressive in print, radio & digital thereby increasing their customer base, building brand awareness and encourage service trials. The company projects 700% growth in revenues for the FY 2017-18.
Brand Capital’s spokesperson said “DoneThing addresses a very interesting problem and has a huge market to cater to. The team is a unique mix of professionals from different backgrounds. They have done a stupendous job in building the product and got a good traction in the business. We are convinced that this team will go a long way in profitably scaling up DoneThing.”
Founded in 2015 by Karan Saharan, Chetan Agarwal, Sonal Saraogi, and Rohit Pansari, the start-up raised $230,000 from Hong Kong based Swastika Co Limited in March 2016. DoneThing was launched with an aim to introduce an on-demand task management solution fulfilling customer's daily needs. Moreover, this creative platform aids customers to get anything picked/dropped within the city, source items from market, outsource their daily tasks, find neighbourhood service professionals and home services all under one roof.