Hyperlocal e-commerce startup LoveLocal raised $ 18 million in a pre-Series B investment round. The round was led by Vulcan Capital, and also includes participation from Flat Capital, CEO of the founder. by Klarna, Sebastian Siemiatkowski, Alumni Ventures Group and Commerce Ventures, among others.
Launched in January 2020, LoveLocal claims to be present in over 35 cities across India. The platform has attracted over 100,000 retailers and processed over a million orders in the past 18 months. It has an online catalog of essential everyday items with 55,000 products in 145 categories.
Akanksha Hazari, Founder and CEO of LoveLocal, said: “Local businesses also account for over 40% of jobs in India. They are the foundation of our communities and the economy. We bridge the technology divide to ensure our local retailers not only survive, but thrive in India 2.0 and beyond. “
Several international unicorn founders have invested in the business. Sebastian Siemiatkowski, founder of Klarna, one of the largest BNPL companies in the world, and Nami Zarringham, co-founder of Truecaller, which recently went public, both joined the final round. Kevin Aluwi, co-founder and CEO of Gojek had invested in Series A of LoveLocal.
The company claimed it was the biggest tour ever by a solo tech founder in India.
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