Lio raises Rs 37 cr from Sequoia Capital India, Lightspeed India
New Delhi: IT startup Lio on Wednesday aforementioned it's raised around Rs thirty-seven large integer in an exceeding seed funding spherical LED by redwood Capital India|Bharat|Asian country|Asian nation} and Lightspeed India. the corporate plans to use the investment primarily to expand its engineering team and increase the number of users of the mobile application.
"The investment by Lightspeed India|Bharat|Asian country|Asian nation} and redwood Capital India helps accelerate Lio's vision of facultative little businesses to be smarter by investing their business knowledge for the higher cognitive process.
"We aim to realize this by serving to folks organize their information," Lio co-founder and business executive Anupam Vijayvergia aforesaid within the statement.
Lio provides a form of tools for tabulation, calculation and organizing desires, like making tables of clients, stocks, payment information for businesses or organizing commotion lists, category schedules or wedding registries.
It was launched in November 2020 and claims to possess recorded ten hundred thousand downloads on the app store within nine months.
In Gregorian calendar month 2021, the app was conjointly launched in Indonesia and has seen robust adoption.
"Lio had raised AN angel spherical from distinguished names within the trade as well as Aakrit Vaish, Anupam Mittal, Ashish Hemrajani, Gaurav Munjal, Haresh Chawla, Kunal Bahl, Kunal Shah, Maninder Gulati, Miten Sampat, Prakshit Dar, Rohit Bansal, Roman Saini, Sachin Bhatia, Siddharth Rao in March 2021," it added.