A hyperlocal content, community, and classifieds platform called Lokal has raised Rs 120 crore in a Series B fundraising round from new investors Global Brain and Sony Innovation Fund, along with support from India Quotient and other long-term investors. The company intends to make use of the money to grow in current markets, introduce new product categories and capabilities, and bolster its product and technology teams.

We observe a natural increase in the population's use of internet-based services among non-English speakers, necessitating the necessity for alternative social platforms like Lokal. As the team expands across the quickly expanding advertising sector, we look forward to assisting them', stated Gen Tsuchikawa, CEO and Chief Investment Officer of Sony Ventures Corporation. With the new fundraising round included, the business has received around Rs 225 crore in funding to date and employs 110 people.

Lokal, a Bengaluru-based company founded in 2018, offers hyperlocal information such as daily updates, commodity prices, local jobs, real estate, matrimonial, local business advertorials, and classifieds that would otherwise be dispersed across local newspapers in vernacular languages. Lokal was founded by Jani Pasha and Vipul Chaudhary.

The software has more than 40 million downloads, is present in around 180 districts across India, and is now accessible on the Google Play Store in Kannada, Telugu, Tamil, Malayalam, Marathi, and Gujarati. The founder and CEO of Lokal, Jani Pasha, stated that this fundraising round "will be crucial in accelerating our growth." An influential group of investors, including Y Combinator, 3one4 Capital, and India Quotient, have supported the Bengaluru-based company.