The funding was lead by Singapore’s sovereign wealth fund, GIC Ventures with participation from its existing investor Norwest Venture Partners. The raised funds will be used in improve its technology and branding fronts, as well as expanding its outreach in Tier I and Tier II cities. The platform offer services in 800+ categories including coaching/training, home/office services, health, lifestyle, property and rentals etc.
Sulekha had earlier raised $10 million in series A from Norwest Venture Partner and $6.5 million in Series B from Norway Venture Partner and Mitsui Global.
As per Satya Prabhakar, Founder & CEO, Sulekha.com, the investment led by GIC and NVP is a powerful endorsement of the opportunities in local services in India.
Founded by Satya Prabhakar and Sangeeta Kshettry, Sulekha.com competes with the likes of a public listed local classifieds listing company JustDial. The platform currently has services in several Indian cities including Delhi, Noida, Mumbai, Bangalore, Chennai etc. and at least 9 North American cities including Austin.