LBB a.k.a Little Black Book has raised $5 Million in Series A funding round by Inventus India and IAN Fund.
Other investors also seen participated in the funding round- Dream Incubator and Akatsuki Entertainment Technology (AET)- Japanese Investors, existing investors Blume Ventures, and Chiratae Ventures.
The funds will be used to develop the technology and product team with a focus on machine learning and integration of content with commerce. The company is planning to establish its mark in India by integrating discovery with commerce to develop small and medium-size businesses.
With the latest fundings, the company has raised a total of $7.5 million.
Delhi-based LBB is a local discovery, events, and lifestyle web and app-based portal that help users to explore and shop from brands and retailers. The company was founded in 2013 by Dhruv Mathur and Suchita Salwan. The platform has over 60,000 local brands and businesses across eight cities, including Delhi, Mumbai, Bengaluru, Pune, Kolkata, Hyderabad, and Chennai. It has over 3.5 million users every month.
LBB facilitates with the references or recommendations on various segments like shopping, adventure, food, travel, gyms, health and much more.