Lokal, a news and classifieds platform focused on regional languages said it has raised $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.
In total, the company has raised over $27.5 million so far. Lokal’s other investors include 3one4 Capital, India Quotient, and Y Combinator.
The company says it will use the fresh funds to expand in existing markets, launch new categories and product capabilities, and strengthen the product and technology teams further.
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.
With a team of over 110 employees on board, Lokal boasts of more than 40 million downloads across seven Indian states over the past five years. Its platform also offers content-led digital marketing solutions for small and medium businesses (SMEs) and brands targeting the same user base.
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