Sulekha.com, a digital platform for local services, has raised Rs 175 crore from Singapore’s sovereign wealth fund GIC and global investment firm Norwest Venture Partners.
The Chennai-based company will use the proceeds for expanding its platform that connects users and local service providers, apart from investing in technology and branding, the company said in a statement.
“Sulekha has been enjoying significant organic growth while being quite capital efficient, making it one of only a few digital companies in India that have been profitable,” said Param Parameswaran, Chairman of Sulekha.com.
Sulekha sends more than 16 million user needs a year to over 2 million active businesses on its platform. Mitsui & Co. (Tokyo) and Indigo Monsoon Group are also investors in Sulekha.