Samreen Ahmad · · 2 min readEx-Bumble COO joins $18m round of Indian hyperlocal ecommerce startup
Hyperlocal ecommerce platform LoveLocal has raised US$18 million in a pre-series B investment round led by Vulcan Capital.
Team LoveLocal / Photo credit: LoveLocal
The startup, founded by Akanksha Hazari, also saw backing from Flat Capital, Alumni Ventures Group, and Commerce Ventures. Angel investors that joined the round include Nami Zarringhalam, co-founder of Truecaller; Sriram Krishnan, general partner at Andreessen Horowitz; Anna Lambert, director of product acceleration at Shopify; Sarah Jones Simmer, CEO of Found and former COO of Bumble; and Arpan Sheth, senior partner at Bain & Company.
Existing investors Blume Ventures, AC Ventures, Henkel Ventures, Chiratae Ventures, and Candy Ventures also participated in the round.
Launched in January last year, LoveLocal has an online catalog of daily essential items with 55,000 products sold across 145 categories.
Focused on hyperlocal daily needs categories such as grocery, chemist, dairy, and fresh fruits and vegetables, LoveLocal provides retailers with a full-stack digitization platform that takes their businesses online, strengthens their consumer relationships, and provides insights so that they can manage their businesses more effectively.
See also: Can Indonesia’s Shopify-like startups usurp ecommerce giants?
The company serves nearly 100,000 retailers in over 35 cities across India. LoveLocal said in a statement that it has fulfilled over a million orders so far.
In the next three years, the ecommerce platform aims to take one million local retailers online.
Editing by Collin Furtado and Lorenzo Kyle Subido
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