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TrulyMadly raises Rs 16 crore funding; investors include Paytm founder


Dating app TrulyMadly on Tuesday said it has raised Rs 16 crore (USD 2.1 million) in funding from Venture Catalysts, 9 Unicorns, Paytm founder Vijay Shekhar Sharma and others.
Early stage investor advisor Jana K Balan, Neil Bahal from Negen Capital, angel investor Ruchi Sihare and existing investors Inflection Point Ventures, The Chennai Angels and AngelList also participated in the pre-series A round, a statement said.
Paytm founder Vijay Shekhar Sharma, InMobi co-founders Abhay Singhal and Piyush Shah, Nodwin Gaming founder Akshat Rathee and Dr Vaidya s founder and CEO Arjun Vaidya also joined the round, it added.
TrulyMadly will deploy the capital 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, it said. ....

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TrulyMadly raises $2.1 million in pre-Series A funding round


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Though established in 2014, TrulyMadly was taken over and overhauled by Snehil Khanor, one of its founding members and first product manager, in December 2018. Operating under Crescere Technologies Pvt. Ltd., Khanor and co-founder and Chief Technology Officer Amit Gupta created a new core team at TrulyMadly and revamped the app to its present avatar. The platform offers compatibility and verification-based matchmaking services and boasts of 85 lakh users.
The pre-Series A funding round comes close on the heels of TrulyMadly recording 10 times growth in Tier II-III cities like Bhubaneswar, Gwalior, Kanpur, Patna, Rajkot, Varanasi and Vijayawada, among others amid the coronavirus lockdown. ....

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Indian dating app, TrulyMadly raises ₹16 crore in pre-Series A


April 20, 2021
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Indian dating app TrulyMadly has raised ₹16 crore ($2.1million) in a pre-series A round.
The round saw participation from Venture Catalysts, 9 Unicorns, early stage investor advisor Jana K Balan, Neil Bahal from Negen Capital, angel investor Ruchi Sihare and existing investors Inflection Point Ventures, The Chennai Angels and AngelList.
Paytm founder and CEO Vijay Shekhar Sharma, InMobi co-founders Abhay Singhal and Piyush Shah, Nodwin Gaming founder Akshat Rathee and Dr. Vaidya’s founder and CEO Arjun Vaidya also joined the round.
The fund raise follows an overall revenue growth by 4X and a 10X growth noted from many Tier 2-3 cities like Bhubaneswar, Gwalior, Kanpur, Patna, Rajkot, Varanasi, Vijayawada among others. The platform has over 85 lakhs users. The start-up raised ₹8.1 crore ($1.1 million) from Inflection Point Ventures, The Chennai Angels and AngelList last year along with some angels and start-up founders. ....

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