Lazylad Raises $500K in Pre-Series A Round of Funding

GHV Accelerator’s startup LazyLad has raised Pre-Series A funding of USD 500k from 3 overseas investors namely, Kiyohiro Sugashita, a financial expert from Japan, Jai Choi, venture capitalist from Silicon Valley and Hirokazu.

Raised funds will be utilised for accelerating company’s expansion plans pan India and upgrading technology. They also have plans of launching their app in Indonesia, Singapore and other developing Asian countries. The app, which was earlier available only for Android users, is now also available in iOS.

LazyLad provides small mom & pop shops with a mobile platform to facilitate their neighbourhood commerce. Through its app the customer has a direct access to neighborhood retailers in six segments – bakery & confectionery items; flowers; fruits & vegetables; daily groceries; meats & seafood and stationery.

With presence in Gurgaon, Chandigarh and one other city as of now, they have a current subscriber base of 8000 android users and 200 registered retailers, servicing around 1000 orders per day; and they have plans to add 50K sellers, 0.5 million downloads and 80K+ orders/day, in a year’s time.

The company has plans of raising Series A round between $5 – $10 million, in the next 6 to 8 months.

In May 2015, LazyLad had joined GHV Accelerator. It was the first startup selected for its accelerator programme.