Indiaonline.in, a network of about 350 inter-linked websites, is in talks with a clutch of venture capital firms to raise about $10 million (about ₹63.6 crore) funding.
The New Delhi-based company intends to use the funds for its expansion plans, including setting up regional offices and increasing headcount.
“We are in early stages of dialogues with a number of VC firms. We are looking at closing the funding in the next months or so, and depending on its success we would look at the next tranche,” Indiaonline.in Director Rahul Jalan said. He, however, declined to reveal the names of the VC firms the company was in talks with citing non-disclosure agreements.
Strategic tie-upsFurther, the company would also look at bringing in strategic tie-ups, he added.
The funding would be used to increase its headcount to about 120 people (from the 45 right now), rope in 5,000 business associates (15 right now) and set up four regional offices in the next 12-18 months.
Indiaonline.in, which has dedicated portals for every city, gets an average of 2 million page views per month. Its services include local search engine, free business listings and website creation, city guide, daily news and updates.
Some of its websites are delhionline.in, mumbaionline.in, kolkataonline.in and chennaionline.in among others.
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