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Local Discovery Platform Little Black Book raised funding from IDG Ventures

Little black book a Delhi based local discovery platform has raised a funding of $1.2 million from Indian Angel Network and IDG Ventures. The funds will be used in technology up-gradation, expanding its foot print across the country, data analytics and also mulling an entry into global markets as well.

Little Black Book started their operations in 2012 by Suchita Salwan. It is a web and mobile based platform operating out of Delhi and Bangalore. It provides discovery services and personalized content to consumers. They are partnered with local small to medium scale brands, also large brands including Airbnb, Samsung, Coca Cola, Nestle and HTC.

Karan Mohla, head of Consumer Tech & executive director 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.”

Since 8 months Little Black Book claims to be having a growth of 600% in revenue and over 800% in active monthly users. It plans to be present in every metro city by the end of the current fiscal.

Earlier the startup raised a seed funding of $150k from Niraj singh of Outbox ventures, Rajan Anandan of Google India, Sachin Bhatia of MakeMyTrip, Aseem Vadehra of Vadehra Art Gallery, Singapore Angel Network and Aashti Bhartia of OGAAN.

Suchita “Salwan founder of Little Black Book 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.”

In 2015 startup claims to have over 2 lakh people attented its event and partner events. There were around 80k monthly visitors in 2014. Presently it claims to have over 1 million users every month.

Other local discovery platform raised funding includes, Hyperlocal a Mumbai based social discovery platform raised $200k in seed funding from Former CEO of Mexx Europe Holding- Rattan Chadha. Shouut a social discoveru app rasied $500k in angel funding. GoYaNo raised a funding of $50k in seed funding from Mukesh Kumar Gupta founder of Carclubindia.com.

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