Luzo secured ₹1 crore funding on Shark Tank India after pitching its salon booking platform, which targets low capacity utilisation in the beauty sector and aims to scale vendor partnerships and digital bookings across India.
Luzo, a beauty and wellness tech platform, recently appeared on Shark Tank India. Founders Nikhil Kalwani, Anurav Dave and Maan Jetley presented their business model focused on salon and spa bookings.
The founders highlighted that salons and spas operate at 50–60 percent capacity utilisation. Luzo aims to address this gap through a mobile platform that connects users with service providers and enables bookings.
Luzo: Platform Features and Model
The Luzo app is available on both Google Play and Apple App Store. It allows users to discover services, request customised bookings and schedule appointments.
The platform includes integrated payments with automatic discounts at checkout. It also offers a cashback programme that clients can redeem across partner outlets.
Luzo’s model focuses on high-velocity inventory management. Services are offered at discounted prices, reducing the average ticket size while maintaining a take rate of 12–13 percent. The company reports an inventory cycle of under 10 days with nearly three turns per month. With this, the app reports a monthly gross margin of around 12 per cent.
Scale and Financial Performance
Since launch, Luzo has onboarded 1,600 vendor partners across cities such as Mumbai, Bengaluru and Delhi. It reports a vendor attrition rate of 3 percent.
The platform has recorded 4.5 lakh user sign-ups, with around 70,000 users completing transactions.
For FY 2024–25, Luzo reported net sales of ₹9.9 crore and a GMV of ₹12.5 crore. The company reported negative EBITDA margins in late 2025 but expects to turn profitable by the fourth quarter of FY 2025–26. It has projected net sales of ₹24 crore for the same period.
Shark Tank Deal and Future Plans of Luzo
The founders entered the show seeking ₹1 crore for 1 percent equity. The deal was closed with Kunal Bahl and Viraj Bahl, who invested ₹1 crore for 3 percent equity. The funding values the company at ₹33.33 crore.
Luzo plans to use the investment to expand its network and technology capabilities. The company aims to reach ₹500 crore in net sales over the next three years and grow to 10,000 vendor partners. The broader goal is to digitise salon and spa bookings and improve capacity utilisation across the sector.
