Lokal, a news and classifieds platform focused on regional languages, has raised $3 million funding from a clutch of investors that include 3one4 Capital, Y Combinator, RB Investments, SOMA Capital and existing investor India Quotient. The round also saw participation from Twitch cofounder Kevin Lin, Xiaomi Indonesia head Alvin Tse, South Korea-based VC firm Starling Ventures, US-based media tech firm XRM Media and tech investment firm I2BF Global Ventures. Started by Jani Pasha and Vipul Chaudhary in June 2018, Lokal provides district-level local news, jobs, classifieds and matrimonial ads along with local information like weather, vegetable prices, gold prices and contact information of doctors and police stations in Telugu and Hindi languages. The Bengaluru-based startup plans to use the funds raised to improve its product, expand its team and enter new markets apart from strengthening its presence in existing markets. Lokal is currently present in 27 districts across three states including Telangana, Andhra Pradesh, and Uttar Pradesh and has registered more than 3 million installs on Google Play Store so far. The startup plans to expand to three more states over the next year. Lokal uses a network of stringers and freelance reporters to produce original news content around that… Read full this story
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