Aisle said it will use the funding from Anas Rahman (MD, Hurun India) and Vinod Jose (founder, Konglo Ventures) and others to look beyond non-resident Indians and at Tier-II markets in India. The dating app connects NRIs who are looking for serious relationships.
Speaking about the announcement, Able Joseph, chief executive, Aisle, said,
“We’re proud to have introduced a high-intent dating product exclusively for Indians in 2014. Back then, only Tier-I cities were ready for our product, dating etiquette was far from where it has reached today, Able Joseph, founder and chief executive officer of Aisle, said. ”But things have changed since the lockdown. Tier-II cities are showing growing acceptance to technology and its use in their daily lives.”
“This fundraise will help us execute some of our plans for Bharat and help young Indians in their late 20s and 30s meet someone special while also honouring our traditions,” he added.
Aisle’s previous round of funding was in 2017 on February 14, led by investors including CIO Angel Network and Konglo Ventures. The company said it turned ebitda positive shortly after and has recorded a compounded annual growth rate of 85.24% over the last three fiscals.
Ebitda, short for earnings before interest, tax, depreciation and amortisation, is a measure of a company’s operational performance.
“The Indian dating industry is one of the fastest-growing in the world, and the fact that Aisle addresses high-intent dating specifically helps them stand out from the clutter,” Rahman said. “We believe Able and his team is working on a sustainable solution that could potentially transform the Indian dating industry.”
“It has been a privilege to have a courtside seat over the last four years to watch how Able and his fantastic team at Aisle have created a space for themselves in one of Internet’s oldest sectors. It is not often you come across a founder that truly cares about solving a problem to its fullest extent,” said Jose of Konglo Ventures.