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Content Startup Lokal Raises $14.6 Million Funding From Global Brain, Sif, Others

Content Startup Lokal Raises $14.6 Million Funding From Global Brain, Sif, Others

04/25/23, 5:26 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/IN.svgbengaluru
Money raised
$14.6 million
Industry
commerce and shopping
Lokal, a news and classifieds platform focused on regional languages, on Tuesday said it has raised Rs 120 crore ($14.6 million) from new investors Global Brain, Sony Innovation Fund — both Tokyo-based venture capital firms — and others.The funding round, dubbed Series B, also saw participation from India Quotient and other existing investors, the statement said. What the funds will be used forThe Bengaluru-headquartered company will use the fresh funds to expand in existing markets, launch new categories and product capabilities, and strengthen the product and technology teams further, it said.In total, the company has raised over Rs 225 crore ($27.5 million) so far. Lokal’s other marquee investors include 3one4 Capital, India Quotient, and Y Combinator.Founded by Jani Pasha and Vipul Chaudhary in June 2018, Lokal provides users in tier II and III cities and beyond with hyperlocal information such as daily updates, commodity prices, local jobs, real estate, matrimonial, local business advertorials, and classifieds.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 Stories“We see a natural growth in the non-English speaking population’s usage of internet-based services, creating the need for alternate social platforms like Lokal. We look forward to supporting the team as they expand across the fast-growing advertising market,” said Gen Tsuchikawa, CEO and Chief Investment Officer of Sony Ventures Corporation

Company Info

Company
Lokal
Location
bengaluru, karnataka, india
Additional Info
Founded in 2018, Lokal is on a mission to strengthen hyperlocal communities by enabling its mostly non-English users to share, interact and transact in their regional language. Lokal users gain access to hyperlocal information such as daily commodity prices, local jobs, real estate, matrimonial, local business advertorials and classifieds which would otherwise be scattered across local newspapers. The app is available in Kannada, Telugu, Tamil, Malayalam and Marathi, and has 10 million downloads with a presence in 100+ districts across South India. Having achieved unmatched user density in deep tier 2 & 3 locations in India, Lokal has been supported by marquee investors, namely 3one4 Capital, India Quotient, Y Combinator. To know more do click: https://getlokalapp.com/
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