Tech 'Deeply Embedded' In Our Platform, Says IPO-Bound Urban Company's COO
"Technology is embedded in every single aspect in what we do," said Varun Khaitan, the chief operating officer of Urban Company.
In an exclusive conversation with NDTV Profit, Urban Company management has laid out the importance of technology and how it is deeply embedded in the company's platform.
"Urban Company is a platform that is built full-stack at the backend with service professionals, and technology is embedded in every single aspect in what we do," said Varun Khaitan, its chief operating officer.
The statement from the management comes ahead of the company's initial public offering, which will open for subscription on Sept. 10.
Urban Company has set the price band at Rs 98 to Rs 103, with the IPO closing on Sept. 12. The company is looking to raise Rs 1,900 crore through the offering.
The Securities and Exchange Board of India approved the IPO plans for Urban Company on Sept. 2, which was part of the regulator's nod for a total of 13 IPO-bound companies.
Technology is at the core of Urban Company's offering, Khaitan pointed out, saying, "The services are done through the mobile app - the entire system that makes sure service professionals reach customers' home and deliver high quality services."
"We have a sizable technology team. We continue to invest in building these technologies and looking out into the future. The technology that we have, we are still in the early days. All the new offerings that we are planning will have to be done through more investments into technology," he added.
As mentioned, the company will indeed use funds raised through the fresh issuance for new technology development and cloud infrastructure, apart from lease payments for its offices, marketing activities, and general corporate purposes.
