Private Equity Fund Investments
Hyper-local retailers aggregator LoveLocal raises Rs.143-Cr from Vulcan Capital, others
Mumbai-based LoveLocal, an aggregator of hyper-local retailers, has raised USD 18 million (INR 143 crore) in a funding round led by US-based Vulcan Capital. Alumni Ventures Group, Commerce Ventures as well as angel investors including Nami Zarringhalam, co-founder of Truecaller; Sriram Krishnan, general partner of Andreessen Horowitz, also participated in the funding round. Existing investors Blume Ventures, AC Ventures, HenkelX Ventures, and Chiratae Ventures also invested in the round. The company has so far raised about USD 30 million, including the latest round. Launched in 2020, LoveLocal provides subscription-based software solutions to local retailers and operates a hyperlocal online marketplace. It will use the new funds for product development, hiring and accelerate expansion across tier 1-3 cities across India.
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