Online discovery platform Little Black Book (LBB) has raised $5 million in a Series-A funding round led by firms like Inventus India and Indian Angel Network (IAN) Fund. The company stated that the funds would be used to expand the product team and technology.
LBB was founded by Suchita Salwan and Dhruv Mathur in the year 2013, the platform has a presence in major metro cities like Delhi, Mumbai, Bengaluru and Chennai with about 60,000 local brands and business which connect their three million users.
Saurabh Srivastava, the co-founder of IAN fund said, “In a relatively short time since its inception, LBB has emerged as the preferred platform for new-age Indians to discover engaging local activities, experiences, and independent brands in their cities.”
LBB has raised a total of $7.5 million in funds till now. Other investors include Rajan Anandan, former head at Google India, Makemytrip’s co-founder Sachin Bhatia.
Online portals have gained momentum and prominence lately and other online portals like ‘The Better India’ has also launched an online market for small and medium enterprises.