Participating in this year’s Y Combinator winter fundraiser, Bengaluru-based matrimonial startup Betterhalf.ai has raised $3 million in Pre-Series A funding from venture capital firms including S2 Capital and Quiet Capital with participation from angel investors Kunal Shah and Samvit Ramadurgam.
Over the last 3 years, Betterhalf.ai has raised $5.4 million in funding. Prior to this, the startup raised a $2.3M seed round from Y Combinator, Tribe Capital, Nurture Ventures, Saurabh Garg of Nobroker and Shailesh Rao, former MD of Google India and former Partner at TPG Capital.
The new funding will be used to boost user engagement on the app, add monetization features, and increase product discovery across organic channels, the company said in a statement.
Currently, the app has a user base of 7 lakh urban millennials. The company expects its user base to touch 1 million users by the end of 2021.
MIT-graduate Rahul Namdev and entrepreneur Pawan Gupta founded Betterhalf.ai in 2016 with the aim of creating a matrimonial app that would help Indians find their ‘better half’ without the overbearing intervention of parents. The platform uses artificial intelligence to aid the search for a 'compatible partner'.
The AI-backed matchmaking platform is clocking $75,000 in monthly revenue with a growth rate of 30 percent (MoM). “The closing of this round post Y Combinator Demo Day is a marker of the investors’ confidence on readiness of 100M urban Indians for a new age matrimony app and allows us to take the company from $1 milion run rate to $5 million run rate for our next Series A round,” said Pawan Gupta, Co-founder of Betterhalf.ai.
-by Akhil V,
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