mydala.com raises $3.7 Million in Series B funding
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mydala.com raises $3.7 Million in Series B funding
New Delhi: New Delhi-based group buying site mydala.com has raised $3.7 million from InfoEdge India in series B funding, through optionally convertible cumulative redeemable preference shares in Kinobeo Software. mydala.com offers individuals to buy in groups, to get deals that they cannot get on their own as individuals. The company was launched in 2009; co-founded by Anisha Singh, the pioneer and leader in the social commerce/group buying space in India; Ashish Bhatnagar, who was the Director Engineering for Ibibio.com; and Arjun Basu, who was a Director at Capital Fusion Partners. Anisha, the co-founder and CEO, also founded Kinis (Software) Solutions, which provides customized e-learning solutions to clients across the U.S. and India. She began her career with Capitol Hill, where she worked closely with National Women's Business Association, and is currently on the board of Indus Women Entrepreneurs, a platform for South Asian women leaders in the U.S. She has a Masters degree in political communication, as well as an MBA in Information Systems from American University, Washington DC. Earlier, mydala.com raised 1.1 Crore in angel funding from Ajay Relan and Jayanta Basu, the founding partners of Delhi-based PE firm CX partners, in their personal capacity. mydala.com is said to have boosted three million subscribers and also introduced the online merchant shop, called the "mydala mall." Info Edge, one of the largest internet companies in India, owns and manages brands like Naukri.com, Jeevansathi.com, 99acres.com, Shiksha.com, Brijj.com, apart from Quadrangle.

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