Info-tech

Local information provider CityShor gets angel funding

Our Bureau Ahmedabad | Updated on January 20, 2018

Pallav Parikh

CityShor co-founder Pankaj Pathak

To use funds from GAIN to launch services in Bengaluru

Lifestyle start-up CityShor has received angel investment from Gujarat Angel Investors Network (GAIN).

Launched by entrepreneurs Pallav Parikh and Pankaj Pathak here in 2013, the start-up provides information on local products, places and things to do around the city. It also provides a platform to local businesses to visually market their products, places and services. Started from Ahmedabad, CityShor has expanded its presence to Pune and now aims to launch services in Bengaluru.

“The primary aim of generating this round of funding is to launch CityShor in Bengaluru, expand our content distribution and increase the team strength to deliver the best. Since its inception we have focused on creating a community of followers, and now, when it is done, we are looking at expanding our footprint,” said Parikh.

Said Piyush Agrawal of GAIN: “CityShor has been a big brand in Ahmedabad with more than 600 clients till date. I see it as a clear-cut self-sustaining business with almost negligible competition across India. The business fits into GAIN philosophy of investing in businesses with revenue generation and with positive unit economics from the word go.”

GAIN, a Vadodara-based angel network with a focus on start-ups in tier 2 and 3 cities, creates a platform for investors in these cities to identify, mentor and invest in start-ups.

CityShor said it aims to achieve over ₹2 crore in revenue next year.

The platform is a hit among small-sized retailers, who can take on established brands by online marketing, resulting in increased foot-falls and business, the company added.

Published on March 29, 2016

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