Gurgaon based Novelroots Internet Pvt. Ltd, maker of the Nearify mobile app that collates information on local events, on Monday said it has raised between $0.5 million and $1 million from Seedfund Advisors, India Quotient and Bedrock Ventures, a seed and early-stage investor.
"We will use these funds to build technology and strengthen our mobile application. We are also looking to incorporate new features such as ticketing facilities for paid events and a messaging platform that will allow users to discuss events with their friends," said Vivek Srivastava (co-founder of Nearify) in a statement to LiveMint.
Novelroots was founded in December 2012 and Nearify was launched in June 2103, founders of startups are three IIT Kanpur alumni - Mayank Kumar, Saurav Singh and Vivek Srivastava. Nearify helps you discover everything that's happening within a 50 km radius around you or anywhere else on the planet. Apart as a website, Nearify is also available as an Android and iOS app, all you have to do is launch Nearify app, let the app detect your location (you may select another location of your interest too) and then see the results load.
Additionally, you can use Nearify to find out about the various events happening in the far-off places as well, in case you are travelling and wish to plan out your itinerary.
The app uses technology to aggregate data related to events from the web, which goes through a proprietary data processing engine for quality and relevance. It then collates that events’ data into a common format for users to consume.
Nearify hosts around 10 million events from 52 cities around the world. "We get 80% of the traffic from outside India," said Vivek Srivastava, adding the company plans to open an office in the US in the next one year.
Novelroots is also working on creating an event promotion platform for organizers where they can "preferentially" list their events on Nearify for a fee.
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