Online dating app Aisle has secured an undisclosed amount of funding from the CIO Angel Network (CAN). The lead investors were Anthony Thomas and Sanjay Mehta.
Konglo Ventures, White Unicorn Ventures, and LetsVenture also participated in the round.
Commenting on the investment, Sanjay Mehta, lead investor, CIO Angel Network said, “Indian millennials are focusing on personalised details, lifestyle, and increasingly going mobile for engagement with their future partner. Aisle is solving this broken system in matchmaking and matrimony to serve this next generation. It is creating the most profitable business by connecting people with people using social networks.”
Launched in 2014 by Able Joseph, Aisle is a members-only online platform that claims to be a crossway between traditional matrimony websites and casual dating apps for Indians from around the world.
The startup claims to have onboard celebrities such as standup comedians, ad film actors, models, yoga instructors, entrepreneurs, chefs, musicians etc.
Able Joseph, founder and CEO, Aisle said, “Online matchmaking in India is a gender, age, proximity, faith, and mother tongue-based business. We think it’s also essential to understand a person’s taste & intent — these are equally important to us. Aisle’s balance in these criteria are good, and this balance adds much value to singles looking for meaningful relationships, especially women.”
Online matchmaking is a lucrative vertical for investors. Earlier in July 2015, venture capital fund IDG Ventures India invested an undisclosed amount in a casual dating app, iCrushiFlush. Prior to that, Mumbai-based People Group, which owns matrimonial website Shaadi.com, bought about 25% stake in Delhi-based dating app maker Thrill in a cash-and-stock deal valued at close to about $1 Mn.
In December 2016, Delhi-based software company Wixty Inc acquired Kingr, a dating app designed for Brazil-based Christians for $150K in an all-cash deal. Earlier this month, online dating app Woo acquired Los Angeles-based dating portal that focusses on the South Asian community called DUS.
Aisle competes with other dating platforms such as Tinder, CoffeMeetsBagels, TrulyMadly etc.
