TrulyMadly secures $5.7 million in Series A funding

Image from TrulyMadly website

Online dating app TrulyMadly has secured $5.7 million in a funding round led by Helion Venture Partners and Kae Capital.

TrulyMadly, an India-based online dating app owned and operated by TrulyMadly Matchmakers Pvt. Ltd., will invest the capital in developing original and sharable content,alongside scaling of their product, product development and expanding their technology team. They’re also planning to grow to five million users by Q4 2016, according to co-founder and CEO Sachin Bhatia.

Founded in August 2014 by Bhatia, along with Hitesh Dhingra and Rahul Kumar, TrulyMadly offers a mobile and web app that lets individuals find their partners through shared interests and personality profiles. Positioned as a modern shaadi.com, Trulymadly users log in through Facebook and fill up their profile using a questionnaire that lets the platform match users to 10 people a day.

In short, it has positioned itself as a key dating platform among the demographic of young educated urban Indians. Currently available on iOS and Android platforms. Thrill Group, its parent company, claims the app is growing 100 per cent month-on-month in terms of downloads, with a third of its user base being women.

A previous seed funding round had resulted in raising an undisclosed amount in angel funding from MakeMyTrip executives Deep Kalra and Rajesh Magow. Another startup competing in this space is Aisle, which secured US$100,000 in seed funding from a group of angels that included including Anand Vijay of Microsoft and Shashank Mehrotra of BigRock.

Related Stories: 

Exclusive:Thai dating app to raise $400K seed fund

Dating app Paktor raises $3.3m Series A funding

Note: An earlier version of this story referred to TrulyMadly as a venture of Thrill Group. TrulyMadly is a separate entity and a competitor of Thrill and Aisle in the Indian online dating space. It is a separate entity and a venture of TrulyMadly Matchmakers Pvt. Ltd. Gratitude is due to Evoc.In for highlighting this error.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.