GrabOn to raise up to $15 mn in Series-A round

The online deals' major currently dominates the recharge, travel, hyperlocal, groceries and foot technology categories

GrabOn, an online coupons and deals venture owned and operated by Hyderabad-based e-commerce products company Landmark IT Solutions, is in the process of raising between $10 million and $15 million (around Rs 100 crore) in a Series-A round of funding within a couple of months.

"The proposed funds will be deployed to connect a lot of missing dots in the online coupons and deals space, and to develop mobile apps on Android, Windows and iOS platforms by the end of December," Ashok Reddy, founder and chief executive officer of GrabOn, told Business Standard.

GrabOn recently launched Buzz, a new notification feature based on the users' shopping patterns. It will launch new features in due course, he said.

 

Commercially launched in April 2014, GrabOn currently dominates the recharge, travel, hyperlocal, groceries and foot technology categories. It is sharpening its focus now on electronics, fashion, furniture, baby care and hosting segments.

Stating that GrabOn has so far garnered 15 million page views and 5.5 million unique visits, Reddy said the target was to cross 30 million page views and 10 million unique visits by the end of this year.

"At present, we are doing a gross merchandise value (GMV) worth Rs 1,500 crore through merchant tie-ups and affiliates, and we expect this to touch Rs 3,500 crore by next year," Reddy said.