AVCJ

Tiger Global leads $5m round for Indian services marketplace

  • Andrew Woodman
  • LinkedIn  
  • Google plus  
  • Save this article  

Indian local services marketplace LocalOye has raised a $5 million Series A round of funding from Tiger Global Management and Lightspeed Venture Partners.

Set up in 2013, Mumbai-based LocalOye is a mobile-only marketplace that uses a recommendation engine that matches users with local service providers including mechanics, fitness instructors, tutors, and event photographers. Using the app, users and service providers can review, accept, engage, and schedule bookings.

So far the the start-up claims to have 10,000 vendors on its platform servicing over 100,000 customers. It will use the capital injection to grow its team, invest in its technology platform, scale up its operations nationally, and expand into new categories.

"LocalOye brings a disruptive experience to the classifieds and yellow pages market that has not seen innovation in a decade," said Dev Khare, managing director of Lightspeed India, in a statement. "We saw clarity of vision and execution in the LocalOye team that we have not seen elsewhere."

The investment comes two weeks after Tiger Global and Lightspeed together invested $30 million in fashion e-commerce site LimeRoad.com alongside Matrix Partners.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on South Asia

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs