Lifelong Online raised Rs.40 crore in a series A funding round led by Tanglin Venture Partners. The startup sells various home appliances, home items, kitchen products, healthcare devices, and personal care appliances.
The company plans to use its first institutional fund in design, scaling up of the company’s manufacturing capability, and development of products. The company takes care of the complete process starting from manufacturing to distribution.
Currently, Lifelong Online has 40 products and has been making profits for two years. The founders believe in creating a platform where services and distribution are assisted by fair prices and is made available in every household in India.
Lifelong Online sells its products on its website as well as third-party e-commerce websites such as Amazon, Udaan, and Flipkart. The Gurugram-based company was set up in November 2015 by Atul Raheja, Bharat Kalia, and Varun Grover.
Tanglin Venture Partners was launched last year by ex-executives of Tiger Global, Edwina Yeo and Ravi Venkatesh. The $50-million fund focuses on providing monetary support to initial-stage tech start-ups in India and Southeast Asia.
Source: ET Tech