TrulyMadly, an Indian-origin online dating and matchmaking platform for serious dating, announced that it has raised about Rs 8.1 crores from a bunch of angel investors and a venture capital firm, as per ETtech report.
It raised pre-Series A funding from AngelList, Inflection Point Ventures (IPV), and The Chennai Angels (TCA). The round includes investments from Unacademy founders Gaurav Munjal and Roman Saini, Airbnb India General Manager Amanpreet Bajaj, and Schindler India CEO Ashok Chandran.
TrulyMadly faces stiff competition from Tinder and Bumble. The six-year-old startup claims that it has helped tens of thousands of its users find their life partner.
“TrulyMadly was going to shut down in 2018. When we founded the company we were ahead of the times. In 2019, we launched a new app and rewrote the code. We are not losing money anymore,” CEO Snehil Khanor said. “In the next five years, this market is going to explode.”
“We are targeting 25 and above age groups, more mature adults. The idea is that these people don’t want to go through the arranged marriage setup because the process is very transactional but these people also don’t want to go on hookup apps,” said Khanor. Its previous investors include Helion Venture Partners and Kae Capital.
TrulyMadly claims that it is the safest dating and matchmaking platform for Indian singles today. It fills in the gap between casual dating apps and matrimony websites, for the audience who is looking for something serious, by themselves and for themselves, without resorting to the matrimony websites which majorly operate only on caste, religion and family wealth, according to the Company’s LinkedIn page.
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