Community App Kutumb In Talks To Raise Up To $20 Mn From Tiger Global
Summary
Tiger Global has offered a term sheet to the Indian startup, but the deal has not been closed yet, according to some people with knowledge of the development told TechCrunch on the condition of anonymity as the talks are private. Set up in July, 2020 by former Pratilipi (language storytelling platform) employees Abhishek Kejriwal, Naveen Dewangan, Vipul Allawadhi and Mohit Sharma, Primetrace Technologies runs the Kutumb app. It also secured a loan of INR 30 Lakh from the Hongkong and Shanghai Banking Corporation, according to Tofler. Besides, Kutumb had raised INR 3.5 Cr from angel investors Gaurav Munjal, Roman Saini, Dinesh Godara, Ranjeet Pratap Singh and others. According to app intelligence platform Sensor Tower, Kutumb recorded more than 3 Mn downloads in February 2021.