Lokal, which is a news and classified platform focused on the regional languages, has now secured $3 million funding from a clutch of investors that include the RB Investments, SOMA CAPITAL, Y Combinator, and 3one4 Capital, and some other existing investor.
The round also saw the participation from the Twitch cofounder Kevin Lin, Xiaomi Indonesia head Avin Tse, and others.
The start-up which is started by the Vipul and Jani in the year 2018. It offers the district level local news, classifieds, jobs, and matrimonial ads along with the local information like the vegetable prices, gold prices, weather, and contact information of police stations and doctors in both the Telugu and Hindu language.
The company, as of now, has plans to use the funds to improve its products, expand its team and enter the new markets apart from strengthening its presence in the existing market.
“For a person using our platform, he has close to 120-150 content pieces to consume in a day,” Pasha said “We focus on density in any location and have deep penetration in each of the districts due to the kind of exclusive content we offer in that location.”
“At a time when content consumption is seeing dramatic growth and the platforms for consuming real-time information are still to be unified, Lokal has delivered high-quality contextual content to users. They have enabled discovery of deeply relevant information via an adaptive multilingual interface,” said Anurag Ramdasan, Head, Investment Team, 3one4 Capital.