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mydala Raises Second Round of Funding from Info Edge
mydala Raises Second Round of Funding from Info Edge
By: iMedia News Bureau

mydala.com, the group buying site has drawn its second round of funding of Rs 18 crore from its existing investor, Info Edge.

The first round of funding was raised in April 2011 from the same company. Info edge has a flurry of websites in its name like Naukri.com, jeevansathi.com, 99acres.com, Siksha.com etc. and quite a few investee websites which include MyDala.com, Zomato.com, meritnation.com, 99labels.com and policybazaar.com.

This funding will help mydala supplement operationally resulting in smooth functioning. It was launched in November 2009 and features a daily deal on the best stuff to do, see, eat, and buy in a number of cities across India.

Speaking to iMedia Connection India exclusively, Anisha Singh, Founder & CEO of mydala says "We are pleased to confirm our Series B raise of USD four million Info Edge India. We are continuously leveraging the support and vast experience of Info Edge and their team as we build out our business. Innovation, customer service and client relationships are our mantra, and we are happy to have an investor with similar beliefs. We will use the funds to scale up our business operations.”

mydala grew out of a company called Kinobeo. They came up with the idea for mydala to tackle what is a common ailment for city-folks: too much choice!!

Indian digital platform is suddenly bombarded with Daily deal sites off late, which include SnapDeal, BagItToday, FashionAndYou.com, Rediff’s Deal Ho Jaye, Dealsandyou.