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Dating app Trulymadly woos angels in its pre-Series A funding round
Photo Credit: VCCircle

Dating platform Trulymadly Matchmakers Pvt Ltd has raised Rs 8.1 crore ($1.10 million) in a pre-Series A funding round.

Investors in this exercise include AngelList, Inflection Point (IP) Ventures, and The Chennai Angels. 

Other participants include angel investors and entrepreneurs from firms such as Unacademy, Haptik, Innov8, Airbnb, and Times Internet, New Delhi-based Trulymadly said in a statement.

Trulymadly – set up in 2014 – counts Find Yaha and FellaHomes founders Snehil Khanor and Amit Gupta among its co-founders. Khanor is the company’s chief executive officer, while Gupta – who joined the startup in April 2019 – functions as its chief technology officer.

Khanor took over as CEO last year from co-founder Sachin Bhatia, who continues to remain an investor and participated in this pre-Series A round, per the statement.

Also last year, Trulymadly announced a strategic shift in its target audience to singles looking for long-term and serious relationships. The company claims to have seen a tripling of its monthly revenues and new user additions since this move.

It will use the capital raised to scale up its operations and size of team, as well as enhance its technological infrastructure. 

Trulymadly says it uses a proprietary software, called the Compatibility Assessment Tool, to match potential partners. It also conducts verification checks and claims to have a stringent approval process for users.

According to VCCEdge, the data research arm of Mosaic Digital, other investors in Trulymadly include Helion Venture Partners and Kae Capital. 

Some of its competitors in the online dating space include Tinder, Bumble, Hinge and Floh.

In 2015, the company raised $5.6 million (around Rs 35 crore) in a funding round from Helion Venture and Kae Capital. At the time, the startup said it would use the capital for content addition and customer acquisition.

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