DROR Labs Pvt. Ltd, which operates citizen’s safety technology platform DROR, has raised funding from the US-based entrepreneur and investor Gopi Latpate and Inflection Point (IP) Ventures.
The Gurugram-based company said in a statement it will use the funds to expand its user base, diversify and enhance its service offerings. However, it did not disclose the amount it raised.
“DROR was amongst the first ones to roll out a special social distancing feature. With the first-movers advantage, DROR has been constantly enhancing its offerings and expanding its user base as people understand the role of technology in ensuring citizen safety,” Latpate said.
This is the second reported investment that Latpate and IP Ventures have made in DROR, with the firm having committed an undisclosed sum to the company in December last year.
DROR Labs, set up in 2018, says its business-to-consumer (B2C) service has been downloaded by over 50,000 people. It claims that enterprise users have also adopted its services. The firm is now seeking to expand into international markets.
The company says it aims to ensure the safety of women, children and senior citizens in urban areas by connecting citizens and building a reliable and trustworthy community.
The investment initiative was floated by a group of chief financial officers and finance professionals working at Indian startups. It was founded in 2017 as a by-invitation-only network. The initiative makes most of its bets at an early stage to pre-Series A levels.
This is the second reported investment it has announced this week and is among the several bets it has made this year.
On Monday, it announced a $150,000 (around Rs 1.14 crore) commitment to Edvizo Media Pvt. Ltd, which acts as a marketplace for competitive examination institutes. In April, it invested $400,000 in ed-tech firm Pedagogy, which helps students buy books while preparing for engineering and medical entrance exams.
Also in April, IP Ventures invested another $400,000 in Vogueme Technologies Pvt. Ltd, which operates video meta-tagging platform Toch. IP Ventures’ portfolio also includes NCR-based digital payments platform Escrowffrr, Kolkata-based rural health-focused startup iKure, Delhi-based virtual assistant provider Wishup, Noida-based sports app Sportido and Singapore-based retinal diagnostic startup Leben Care Technologies.