VC Fund Investments
Lokal raises Rs.120-Cr Series B from Global Brain, Sony Innovation Fund and others
Bengaluru-based Lokal, a hyperlocal content, community and classifieds platform, has raised INR 120 crore in a Series B funding round from new investors Global Brain and Sony Innovation Fund, with participation from India Quotient and other existing investors. Founded by Jani Pasha and Vipul Chaudhary, Lokal provides hyperlocal information like daily updates, commodity prices, local jobs, real estate, matrimonial, local business advertorials, and classifieds that would otherwise be scattered across local newspapers in vernacular languages. The app is currently available in Kannada, Telugu, Tamil, Malayalam, Marathi, and Gujarati on the Google Play Store and has more than 40 million downloads from users in about 180 districts across India. The new funds will be used to expand in existing markets, launch new categories and product capabilities, and strengthen its product and technology teams.
From the Venture Intelligence PE-VC Deal Database: Between Aug 18 and Sep 21, Lokal had raised over USD 15 M from India Quotient, Y Combinator Continuity Fund, Soma capital, 3ONE4 Capital, Tencent, RB Investments and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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