Investigation Reveals: Quick services platform Pronto, funded by General Catalyst, considers a potential return to the Indian market
Pronto, the quick services startup that allows users to book various services like cooks, domestic help, and cleaners within 10 minutes, is making significant moves in the industry. The company, which was initially set up in the US, was founded by Anjali Sardana, an investor and student in the US.
Pronto has recently raised around $2 million from Bain Capital, its former employer, and is in the process of raising an additional $10-12 million. Notably, this new funding round involves General Catalyst, Glade Brook, and Untitled VC, separate from Bain Capital. Besides Bain Capital, the investment firms that funded Pronto in the last round of $10-12 million include Accel and Coatue.
In a strategic move, Pronto is planning to change its domicile from Delaware to India. This decision comes earlier than many other firms, such as Meesho and Groww, who only flipped their bases back to India a few months before going public. The reasoning behind this early move is to better understand and operate in India, Pronto's only market for the business.
Pronto's competitor, Snabbit, a quick services startup funded by Lightspeed and Elevation Capital, was founded by Aayush Agarwal, a former Zepto employee. As Pronto continues to grow and expand, it aims to avoid shelling out extra money later on, much like Meesho, Groww, and other successful firms.
As Pronto moves forward with its new funding and domicile change, it is in the advanced stages of giving a seat on the cap table to General Catalyst, Glade Brook, and Untitled VC. The company has not responded to ISN's queries regarding the new funding round.
In the rapidly evolving world of startups, Pronto's strategic decisions and growth trajectory are worth keeping an eye on. As it navigates its new funding and domicile, the company is poised to continue making waves in the quick services industry.
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