Startup Lokal Raises Rs 120 Cr From A Host Of Investors
The funds will be used to expand in existing markets, create new product categories and capabilities, and improve its product and technology teams.
Lokal, a hyperlocal content, community, and classified platform, has raised Rs 120 crore in a Series B fundraising round led by new investors Global Brain and Sony Innovation Fund, with India Quotient and other current investors participating.
The funds will be used to expand in existing markets, create new product categories and capabilities, and improve its product and technology teams.
The business has received approximately Rs 225 crore in funding to date, including the current round, and employs 110 people.
Lokal, based in Bengaluru and founded in 2018 by Jani Pasha and Vipul Chaudhary, provides hyperlocal information such as daily updates, commodity prices, local jobs, real estate, matrimonial, local business advertorials, and classifieds that would otherwise be dispersed across local newspapers in vernacular languages.
The app is presently accessible on the Google Play Store in Kannada, Telugu, Tamil, Malayalam, Marathi, and Gujarati and has over 40 million downloads, with a presence in about 180 districts across India.
