The star of the 2011 cricket World Cup, Yuvraj Singh has entered into the foray of entrepreneurship. YouWeCan Ventures, the startup owned by the cricketer is reported to have invested in beauty and wellness platform Vyomo. The amount invested by the startup is unknown though.
This is said to be the first investment of YouWeCan and the startup’s turnover is said to at Rs. 50 crores.
The one unique aspect about Vyomo is that its premier objective is to create such a scenario for beauty professionals that they can manage, as well as grow their business through their smartphones. This will increase their productivity and efficiency to a great extent. Vyomo will also be a boon to customers, as they can easily fix their appointments with beauty professionals from their mobiles.
The beauty and wellness industry is already quoted as the “next big thing” in India as it is forecasted to double to Rs 80,370 crores by FY18 from Rs 41,224 crores in FY13. The figures were brought to light by a KPMG report published in 2014.
The official mobile application will be launched in May this year for spas, salons and stylists. On the other hand, the application for customers will be launched in July this year.
As per the official estimates, Vyomo will bring more than a million stylists on the map and provide a great way to increase their earnings as they will have greater access to potential customers.
Yuvraj Singh was recently quoted saying, “We would like to support empowerment of millions of beauty professionals and help them improve their lives.”
“Securing funding from YouWeCan Ventures will allow us to scale and expand to meet the demands of our global users,” said Abhinav Khare, founder and chief executive officer of Vyomo.