Indian-Origin Dating App TrulyMadly Raises Rs 16 Cr In Pre-Series A Funding Round
TrulyMadly, a Dating app, has raised Rs 16 crore ($2.1 million) in pre-Series A funding round.
The funding round saw participation from Venture Catalysts, 9 Unicorns, early-stage investor advisor Jana K Balan, Neil Bahal from Negen Capital, angel investor Ruchi Sihare.
Existing investors Inflection Point Ventures, The Chennai Angels and AngelList also participated in the funding round.
Vijay Shekhar Sharma (Paytm Founder and CEO), Abhay Singhal and Piyush Shah (InMobi Co-founders), Akshat Rathee (Nodwin Gaming Founder), and Arjun Vaidya (Dr. Vaidya’s Founder & CEO) also joined the round.
As per the startup, it will use the funds to build new product offerings, expand to new geographies, and boost its technology by leveraging Artificial Intelligence (AI) powered platform features and Machine Learning (ML) algorithms to empower millennials in exploring serious relationships in an increasingly digital world.
Launched on 14th February 2014, TrulyMadly is an Indian-origin online dating and matchmaking platform for serious dating, accessible via Android and iOS apps and as a Progressive Web App (PWA).
Speaking about the growth of the platform, Snehil Khanor, TrulyMadly CEO and Co-founder, said,
“The strong growth is backed by our mission of removing stigma associated with dating and dating apps in India. The 4X growth in revenue over last year is reflective of the value our proprietary technology has brought to young millennials with serious intent towards relationships.”
Snehil added that the next stage of growth will be led by further developing our technology platform to enhance the experience and increase our reach in Tier II and III cities.
With more than 8.5 million users, TrulyMadly prides itself as the safest dating and matchmaking platform for Indian singles today.
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