Four Interactive Gets $10 Million In Second Round Funding From Lightspeed, SVB and Matrix Partners
By Nikhil Pahwa - Thu 27 Sep 2007 05:07 AM PST
Four Interactive, a Bangalore-based online local search company has received $10 million in second round of funding from Lightspeed Venture Partners, Silicon Valley Bank and Matrix Partners India, reports VCCircle. The company had received $2 million from Matrix Partners around seven months ago. Jake Seid, General Partner with Lightspeed is joining the company’s board.
Four Interactive runs local information service AskLaila.com which currently provides information related to events, food, shopping etc for Bangalore, and intends to expand its coverage to Delhi, Mumbai, Kolkata, Hyderabad and Chennai in the next 12 months. They have a long term target of 22 cities. Interestingly, the company is building it’s own local information database, unlike most others which take information from Infomedia. Four Interactive was launched with plans do develop services that “lie at the intersection of mobile, content and web”, so it obviously has mobile plans.
Others in this domain include Infomedia India, Burrp (undisclosed angel funding), JustDial (SAIF Partners funded), Zook from Ziva Software (funding from Nadathur), MIH India’s Dwaar, OnYoMo. Some of them were considered to be possible acquisition targets for Google (NSDQ: GOOG), but Google did it’s own thing and launched a local search.
Posted in: Search, Venture Capital
