Mumbai-based LocalOye raises Rs 31 cr to expand across country
15 April 2015 1:04 AM GMT
Local services mobile marketplace LocalOye has raised Rs 31 crore in the first round of funding from Lightspeed Venture Partners and Tiger Global Management.
LocalOye will use the funds to aggressively scale nationwide and expand to more service categories, said a company release. The company will begin operations in Bengaluru in May, followed by NCR.
LocalOye currently operates in Mumbai, offering services in categories including home services, education (tutors), wellness (yoga instructors) and events (photographers). Commenting on the fund-raise, LocalOye founder Aditya Rao said, “Over the past 1.5 years, we have solved some of the toughest local services problems, and now it is time to exponentially build on this momentum by continuing our focus on great execution, merchant quality and customer delight.” Current solutions by local service companies operating in the space are dependent on a classifieds approach.
LocalOye will use the funds to aggressively scale nationwide and expand to more service categories, said a company release. The company will begin operations in Bengaluru in May, followed by NCR.
LocalOye currently operates in Mumbai, offering services in categories including home services, education (tutors), wellness (yoga instructors) and events (photographers). Commenting on the fund-raise, LocalOye founder Aditya Rao said, “Over the past 1.5 years, we have solved some of the toughest local services problems, and now it is time to exponentially build on this momentum by continuing our focus on great execution, merchant quality and customer delight.” Current solutions by local service companies operating in the space are dependent on a classifieds approach.
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