Public App, a location-based social community that connects people to folks of their neighborhood, has raised $41 million in a brand new spherical, simply six months after securing $35 million because the hyper-local Indian startup seems to increase its presence on the earth’s second largest web market.
A91 Companions led the brand new spherical in Public App, valuing the Indian startup at over $250 million (greater than double since its final fundraise). The Indian startup, which additionally operates in style information aggregator app InShorts, stated a few of its current buyers additionally participated within the spherical however didn’t establish them. Public App counts Lee Fixel’s Addition, SIG, and Tanglin Enterprise Companions amongst its buyers. (The startup didn’t specify the identify of the brand new spherical.)
Azhar Iqubal, founder and chief government of Public App, stated the brand new social community has amassed over 50 million customers already and he goals to increase it outdoors the nation ultimately. The app, launched in April 2019, has already attracted people corresponding to politicians and a number of other main corporations corresponding to Amazon, HDFC Financial institution, and GSK which might be utilizing Public App to achieve their viewers.
“Public has continued to take care of greatest at school retention and engagement metrics whereas scaling. We stay up for working intently with the founders to assist construct an impressive firm,” stated Gautam Mago, Normal Associate at A91 Companions, in an announcement.
Public App, which is on the market in a number of main Indian languages (together with Hindi, Bengali, Punjabi, Telugu, Tamil, Kannada, Malayalam, Odia, Assamese, Gujarati and Marathi), permits store house owners and different native companies to drive e-commerce and rent native expertise, and political leaders, authorities authorities, and media homes to achieve native audiences.
“The app is already being utilized by over 50,000 elected officers, authorities authorities and citizen journalists to attach with their locality. Moreover, many native companies have additionally began to make use of the app to achieve their prospects within the locality,” the startup stated.
The app, which additionally supplies leisure and information providers, sees greater than 1 million movies being created on the platform every month.
The startup plans to deploy the brand new capital to increase its tech infrastructure, broaden its content material choices, and rent extra expertise.
As soon as considered a crowded area, a number of Indian startups have launched their social networks in recent times. Kutumb, an eight-month-old startup, is in talks with Tiger International to boost funds in a spherical that values it about $170 million, TechCrunch reported earlier this month.