Social Discovery App Shouut Raises 500K Angel Funding

Delhi-based social discovery app, Shouut, has raised $500K in an angel round of funding from an undisclosed high-net-worth individual in India, reported Livemint.

Founded in 2015 by Praveer Kochhar, the social discovery platform helps users find places around them, based on recommendations by people. It also enables users to discover exclusive rewards from retail, F&B, hospitality and other brands in their proximity. Users can also buy event tickets and redeem coupons.

With Shouut, recommendations of local attractions, events, food, lodging, nightlife, shopping and travel suggestions are included in a single app. The app has over 1000 downloads.

Shouut uses Geo-Fencing and iBeacons, as technology, to target consumers and give them relevant and contextual information.

The business registered on its platform benefits by leveraging its proximity marketing tool. The company claims that it has tied up with Shoppers Stop, Croma, Reliance Digital and Benetton, among other brands.

Prior to this, in February 2016, Gurgaon-based hyperlocal discovery platform, Magicpin, raised $3 Mn in Series A round of funding from existing investor Lightspeed Venture Partners. Other players in this segment include Klip.in, Little, Smytten, and Little Black Book Delhi, among others.

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