India’s Home Service Supermarket
Sidharth Kulbhaskar, a trained marine engineer and seasoned team leader, founded Myla.in. He conceptualized a digital platform to empower people across the social ladder. His vision is to build a platform that bridges the gap between service providers and consumers.
Here is a glimpse of the conversation HE had with Sidharth.
Q – How did you come up with the idea for Myla.in?
Sidharth Kulbhaskar – I observed the constant improvements in human interactions via technology. As a serial entrepreneur across multiple industries such as oil & gas, shipping, and FnB, among others, my drive was to make the majority of India’s unrecognized service provider workforce a part of Digital India.
With this mission at the core of Myla’s genesis, I, along with Amit Kulchand and Amit Shankar, launched a digital platform that benefits both the consumer and small-scale service providers.
Q – What were some challenges you faced when creating your company?
SK – The rate of urbanization in India has been on a fast track. It continues to give impetus to Myla’s growth, especially in the metro markets and across tier 1 cities. However, the penetration in tier 2 and tier 3 markets has been somewhat challenging from the home service demand standpoint. Still, we are making constant efforts to spread awareness about Myla.in and how people can benefit from the digital platform.
Q – What are your expansion plans for your online platform?
SK – We are looking forward to closing our Series A funding of around $10 million soon. We will be deploying the new capital towards back-end development and expanding our team.
Q – Your views on “Digital empowerment of vendor.”
SK – Digital empowerment of vendors falls in line with the narrative of Digital India, wherein no citizen of the country shall be aloof from the benefits of the digital era. Myla.in was born from the same notion and worked to aggregate the unorganized workforce onto a digital platform.
We provide vendors with a stage to showcase their trade and skills via an online forum and propagate their voice to the masses via digital marketing.
Q – Why do you think the demand for home-services startups is increasing in India?
SK – The demand for home services in India is a booming sector, and according to Verified Market Research, the Indian Home Services Market was valued at USD 10.29 Billion in 2018 and is projected to reach USD 65.51 Billion by 2026, growing at a CAGR of 27.2% from 2019 to 2026.
The key factor behind this is the penetration of smartphones across markets, accompanied by easy and affordable access to the internet, increasing the demand for more versatile home services. Therefore, India is witnessing a demand for home-services startups. There are a plethora of services available at home with just a few clicks, from barber to plumber and even pet care.