Content Startup Lokal Raises Funds From New Investors
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Content Startup Lokal Raises Fund From New Investors

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The Bengaluru-based content startup Lokal intends to utilize the extra money to expand in its present markets, offer new product categories and features, and strengthen its technical and product teams.

Lokal, a regional language-focused news and classifieds website, revealed on Tuesday that it has secured Rs 120 crore ($14.6 million) from new investors, including Tokyo-based venture capital firms Global Brain and Sony Innovation Fund.

India Quotient and other current investors participated in the Series B investment round, according to the press release.

What will be Done With the Money

According to a statement, the company, which is based in Bengaluru, wants to utilise the extra cash to expand in its present markets, offer new product categories and capabilities, and advance the product and technical teams. In total, the company has already raised more than Rs 225 crore ($27.5 million). Other noteworthy sponsors of Lokal include Y Combinator, 3one4 Capital, and India Quotient.

Lokal gives consumers access to hyperlocal information in addition to daily updates, commodity pricing, local jobs, real estate, matrimonial, local business advertorials, and classifieds in tier II and III cities and beyond. In June 2018, Jani Pasha and Vipul Chaudhary established Lokal.

Lokal gives consumers access to hyperlocal information in addition to daily updates, commodity pricing, local jobs, real estate, matrimonial, local business advertorials, and classifieds in tier II and III cities and beyond. In June 2018, Jani Pasha and Vipul Chaudhary established Lokal.

We see a natural rise in people using web-based services, which makes Lokal and other alternative social platforms necessary. Gen Tsuchikawa, CEO and Chief Investment Officer of Sony Ventures Corporation, stated that “We look forward to assisting the team as they broaden their reach across the quickly expanding advertising market.”

Over the course of the last five years, Lokal has received over 40 million downloads from seven Indian states, according to its team of over 110. Small and medium-sized businesses (SMEs) and brands looking to reach the same audience can also find content-driven digital marketing solutions on its platform.

Founderspeak

Lokal has over 110 employees and has received over 40 million downloads in the previous five years from seven Indian states. Small and medium-sized businesses (SMEs) and brands can find content-driven digital marketing solutions on its platform if they are trying to reach the same user base.

A hyperlocal platform for information, community, and ads is being developed by “Lokal” to help millions of Indians realise their full potential. Anjani Bansal, a partner and the company’s national head, claims that it is already operational in more than 180 districts spread over seven states. Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Kerala, Maharashtra, and Gujarat are now the states where Lokal is in use.