Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Delhi-based TrulyMadly, an online dating and match-making startup, has raised INR 35 Cr. in first round of funding from Helion Venture Partners and Kae Capital. The startup lets singles discover each other through shared interests and personality profiles.
TrulyMadly was cofounded by Hitesh Dhingra, Ex-Founder, Letsbuy.com, Sachin Bhatia, Ex-Founder, MakeMyTrip & Rahul Kumar, Ex-Product Head, MakeMyTrip in February 2014. The startup had raised angel investment from Deep Kalra, founder , CEO, MakeMyTrip, and Rajesh Magow, CEO, MakeMyTrip, Indian ops.
TrulyMadly had also launched a mobile app in August last year, which has witnessed over 200,000 installations. As per the company, the app is growing at 100% month on month in terms of downloads, with women making up over 35% of all users.
The match-making mobile app allows singles to look out for long term compatible relationships through shared interests and personality profiles. The app can be used if a user is able to score at-least 30% of ‘Trust Score’.
Observing that online dating is finding mainstream acceptance in India, Sachin Bhatia, CEO and Co-Founder, TrulyMadly said, “The brand needs to grow vastly as it involves building a social network, hence we will be investing in developing original and sharable content. We will also be investing heavily in bolstering our product and tech team. We plan to grow to 5Mn users by next year and sustain our leadership position in the dating and match-making space.”
Related: Trulymadly: Matchmaking Startup By The Founders Of Letsbuy & MakeMyTrip
Ritesh Banglani from Helion Venture Partners said that they see the dedication of the team and their will power to make it big that convinced them to invest.
Recently, another Bangalore-based matchmaking startup aisle.co grabbed $100k in seed funding in February.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.