Local Online Discovery Platform Little Black Book Raised USD$1.2M From IDG Ventures & IAN
Delhi-based Local Online Discovery Platform, Little Black Book, has raised USD $1.2 million from IDG Ventures and Indian Angel Network.
It is a mobile and web platform that currently operates out of Delhi and Bengaluru. It provides local personalised content and discovery services to consumers.
The raised funding will be utilised for technology enhancement and talent acquisition along with expanding its base to other cities.
Local Online Discovery Platform Little Black Book was founded by Hindu College alumini Suchita Salwan and former Deloitte executive Dhruv Mathur in 2012 in Delhi India.
Suchita Salwan, CEO said, “We have proven that urban consumers want to move beyond traditional Yelp-esque listing and aggregator platforms; they seek more than just food and event discoveries. As a media-tech business, our north star has been driving not just monthly active users, but delivering a product that draws a highly engaged and sticky audience.”
Earlier a year ago, it raised USD $150,000 in seed funding from Rajan Anandan of Google India, Niraj Singh of Outbox Ventures, Sachin Bhatia of MakeMyTrip, Singapore Angel Network, Aseem Vadehra of Vadehra Art Gallery and Aashti Bhartia of OGAAN.
Karan Mohla, executive director and head of Consumer Tech and Media at IDG Ventures said, “LBB represents the type of new-age disruptive digital media company that we, as venture investors, are excited to partner with. LBB has created an immersive and engaged platform for consumers and brands across Delhi and Bangalore today and expanding that to five more cities in the near future,”
The platform claims to have 600,000 monthly users via their website, and plans to reach out to over 1 million users every month.