Chennai-based Online Classifieds Sulekha Raises $28.1M from GIC and Norwest

Image Source: GooglePlayStore

Image Source: GooglePlayStore

Chennai-based local services classifieds platform, has raised $28.1 million in series C round led by Singapore’s sovereign wealth fund, GIC with participation from existing investor Norwest Venture Partners.

As per a VCCircle report, the raised funding will be used to invest in technology and branding, further expand its platform as well as to increase its presence in Tier I and Tier II cities. Sulekha has built a sophisticated platform in 800+ local service categories including coaching/ training, home/office services, health/lifestyles and property/rentals. With the help of its platform, around 16+ users, so far, have connected to local services experts to get their job done.

Previously, it had raised $6.5 million in series B round from NVP and Japanese firm Mitsui Global and secured under $10 million in series A funding in 2006 from NVP. The firm competes with a public listed local classifieds listings company JustDial.

In 2014, in the tech space GIC has invested in Indian eCommerce marketplace Flipkart with DST Global and earlier this month joined DST to invest in Ola.