Dharana Capital invests Rs 400 crore in on-demand home service provider Urban Company

The shares were acquired from employees and other shareholders, making this transaction the largest ESOP liquidity in Urban Company's history

Dharana Capital on July 17 announced the acquisition of shares worth over Rs 400 crore ($50 million) in on-demand home service provider Urban Company (UrbanClap Technologies Private Limited) through a significant secondary transaction. The shares were acquired from employees and other shareholders, making this transaction the largest ESOP liquidity in Urban Company's history.

Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, will also join the board of Urban Company as a Non-Executive Director. Vamsi Duvvuri, Founder and Managing Partner, Dharana Capital, said “Urban Company, with its full-stack approach and focus on partner enablement, has built a strong, capital efficient and durable business in a challenging local services market. We remain deeply impressed with the focus and execution of the UC founders and team. We look forward to continuing to support them in their endeavor to build a long-lasting institution.”

Abhiraj Singh Bhal, CEO and Co-founder, Urban Company, said “We are very excited to partner with Dharana Capital and have Vamsi Duvvuri join our Board of Directors. Vamsi has been a strong partner to Urban Company for a long time, and we look forward to working with him even more closely in the future.”