22.04.2015 - Sulekha.com raises Rs 175 crore from Singapore's sovereign fund GIC
Local listings services provider Sulekha.com has raised Rs 175 crore funding from Singapore's sovereign wealth fund GIC and venture capital Norwest Venture Partners (NVP). The company will use the series C funding to expand its presence in tier II cities to mainly focus on technology and branding. "We have architected a lucrative business model because of the immediacy, specificity and location-oriented nature of the user local service needs. This investment is an endorsement of the potential of the local services opportunity in India," Sulekha.com founder and CEO Satya Prabhakar told PTI today. The company has previously raised about Rs 100 crore through two rounds of funding from Indigo Monsoon, Mitsui and NVP.........................................Full Article: Source
Print