Delhi-based online dating and matchmaking app TrulyMadly has raised Rs. 35 crore in their first round of funding from Helion Venture Partners and Kae Capital. TrulyMadly has been started by several serial entrepreneur, including Sachin Bhatia, who had also co-founded MakeMyTrip.
TrulyMadly is an app which serves a platform that brings singles together based on common interests and psychological matching.
The TrulyMadly app was launched in August 2014, and so far has seen over 200,000 downloads, and claims to have about 65,000 monthly active users mostly from India and south-east Asia. Of those, 35 percent are women.
Other than Sachin Bhatia, co-founder MkaaeMyTrip, the other co-founder is Hitesh Dhingra, who co-founded his earlier venture Letsbuy.com which was sold to Flipkart in 2012 for reported $25 million. The third co-founder in the company is Rahul Kumar, who has earlier been associated with Expedia, Oracle, and MakeMyTrip.
Sachin Bhatia, CEO and Co-Founder, TrulyMadly said, “since we are building a social network of sorts, the brand needs to grow virally and therefore we will be investing in developing original, sharable content. We will also be investing heavily in bolstering our product and tech team. We plan to grow to five million users by next year and sustain our leadership position in the dating and match-making space.”
Online dating is finally finding mainstream acceptance in India. Last month, matrimonial portal Shaadi.com owner People Group has acquired about 25% stake in dating applications maker Thrill in a cash and stock deal valued at close to $1 million (about Rs 6 crore 13 lakhs).