Company Name : Lookup
Funding Amount : $2.5mn
Investor(s) Catamaran Ventures, Vinod Khosla, Biz Stone.
Funding Round : Series A
Lookup, a free and secure messaging app that connects shoppers with local businesses has raised $2.5 million Series A funding. The funding round is led by Vinod Khosla’s personal fund Khosla Impact which also saw participation from Twitter co-founder Biz Stone, Narayana Murthy’s Catamaran Ventures and Global Founders Capital, the European investment fund from Rocket Internet’s Samwer brothers.
Other participants include Geneva based ACE & Company, Singapore based M&S partners, New Look fashion chain founder Tom Singh, Lookout founder Kevin Mahaffey and LivSpace founder and former Google Local head Anuj Srivastava.
In January this year, Lookup had raised a total of $382,000 in its seed round from Infosys co-founder Kris Gopalakrishnan, DeNA Japan, Beenos founder Teruhide Sato and MKS Switzerland SA. They also participated in the current round.
Founded by Innoz’s Deepak Ravindran, within about 9 months of launch, Lookup has already registered 1 million users with over 800,000 users on Android. It has over 250,000 monthly active users, and over 70,000 merchants on the platform, with daily activity of 55-60,000 users. Lookup currently operates in three cities, Bengaluru, Mumbai and Delhi. The funds will be employed to expand Lookup’s merchant base, in order to enhance convenience for its users and to branch out into newer geographies.
To date, Lookup has received over 15 million messages and handles about 100,000 daily messages ranging queries from food, medicines, groceries and electronics in a hyper-local area. It has recently incorporated the booking feature for local saloons and spas and has tied up with supply chain solution firms like Delhivery for POS terminal integration.