Kartik Saboo started his website “khaugalideals.com” at the age of 15 and has now climbed the heights of E Commerce Business in five years and has become a national player in restaurant oriented discount deals through his website with presence in more than 14 cities all over India including metro cities like Delhi, Mumbai, Kolkata, Banaglore and Hyderabad.
KhauGaliDeals.com, a restaurant discovery and discount deals portal, is raising Rs.75 lakh in an angel round from a group of investors.
Money raised in this round will be used to enter 25 new cities and add more restaurants to the platform over the next six months. The company is also looking to raise an additional Rs.5-6 crore in its first venture capital round in September. Money raised in the venture capital round will be utilised for marketing the brand and customer retention.
“The current round is more focused on content development,” Saboo said.
“Once we develop the content, we would need to do branding so as to compete with competitors. That’s why we are looking for an immediate second round. So that we can utilise that content and do some branding to retain customers.”
The first edition of the website was launched in 2010 and focused exclusively on food recipe. After stellar response in the interment 1.5 years, Kartik decided to reshape it into khaugalideals.com. After its re launch in 2012, they got the first transaction in September 2012 for a 26 rupees and has been no looking back since.
KhauGaliDeals currently covers about 8,500 restaurants in the National Capital Region, Mumbai, Bengaluru, Hyderabad, Kolkata, Jaipur, Ahmedabad, Chandigarh, Pune and Udaipur.
Kartik Saboo and co-founder Supriya Saboo started KhauGaliDeals in 2012 with funds raised from family and personal savings. The website has 17,000 daily visitors and its Android application has been downloaded 11,500 times since its launch.
The Company is planning to expand its reach further in the year 2016 by entering tier three cities of India and utilize the untapped market potential by increasing its restaurant membership to 1 lakh and aiming a revenue generation of 1 core per month.
Company has already achieved the seed funding from investors and is looking forward to its next round of funding this year to achieve their target of 50 crore.
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