Bain bets on Indian domestic work startup Pronto even as rivals face criticism

Urban India is becoming increasingly used to not having to wait — at least when it comes to getting goods and services delivered. You only need to look at the breakneck pace at which instant delivery apps like Blinkit, Zepto, and Swiggy Instamart have grown and continue to see adoption soar in the country. Pronto, one such startup that lets users book and avail cleaning, laundry, and home services within 10 minutes, is capitalizing on that change in consumer behavior, and it’s now come out of stealth with a $2 million seed round led by Bain Capital Ventures at a post-money valuation of $12.5 million. Investors are likely stoked to invest in such startups given their potential for growth, but Pronto’s funding is coming at a time when people are increasingly sensitive to how gig workers are treated by platforms. Just two months ago, another venture-backed home services provider, Urban Company, faced intense public backlash for launching a similar service. Called Insta Maids, the 15-mi ... Read full article.