Sequoia Capital has invested $8.2mn (Rs. 40 crores) in Justdial, the local search engine firm.
This is JustDial’s third round of funding – JustDial earlier raised funding from SAIF Partners and US based Tiger Global Management. From what we know, JD’s earlier fundings weren’t even used (the plan was to roll out internationally, but it didn’t happen – so maybe it was a conditional deal?), so Sequoia story comes with some surprise.
JD receives close to 6 million voice queries a month (read: Local Search Service Traffic comparison) and their web traffic is a clear indicator of their authority in local search space (see: .Is JustDial Traffic Inflated?)
Fundings/Other Developments in Local Search space
- Helion Ventures Invests in Getit Yellow Pages
- Yahoo India acquired 30% stake in CallEzee
- Google integrates Voice Recognition in Local Search
- Navteq Launches India Map – We Take it for a Ride (come fly with us)
- Sulekha revamps it’s yellow page service– partners with Hungryzone, Burrp, Travelguru
Sequoia has also invested in SatNav – so expect some cross play between the two players.
Check out our complete coverage of local search market in India.