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Lio, a SaaS startup, received $5M in seed funding from Lightspeed India Partners and Sequoia Capital India. The funds will be used to hire more engineers and increase the number of users of the company’s mobile app.
Lio, a SaaS startup, has raised $5 million in a seed funding round led by Lightspeed India Partners and Sequoia Capital India, the company said in a press release. Businesses can use Lio to calculate, tabulate, and organize tasks like creating to-do lists, wedding registries, and class schedules.
The funds will be used to hire more engineers and increase the number of users on the company’s mobile app. The app currently claims over one million downloads and has also launched in Indonesia. As it has a non-English speaking user base of 45 percent, the platform also operates in 10 Indian languages.
The investment by Lightspeed India and Sequoia Capital India helps accelerate Lio’s vision of enabling small businesses to be smarter by leveraging their business data for better decision making. We aim to achieve this by helping people organize their data using a simple yet powerful mobile app that they can customize to their needs.Anupam Vijayvergia, co-founder and CEO of Lio
Lio assists its users in efficiently organizing their data on their mobile phones. The company’s issue is a lack of high-quality data creation and sharing software designed for mobile-first users. Since over 100 million users in India alone have used mobile as their first internet device in the last year, there is a significant global demand for mobile-first data creation and management software. The company built the product in stealth mode and announced the fundraise after experiencing rapid growth and adoption over the last six months.
Anurag Vijayvergia and his twin brother Anupam Vijayvergia launched Lio in November 2020, allowing businesses to calculate, tabulate, and organize tasks such as creating to-do lists, wedding registries, and class schedules. Home businesses, solo business owners, farmers, doctors, and small to medium businesses, among others, can use the product.
With this investment, we aim to scale up the engineering and product team at Lio. We are proud to be a first-of-a-kind platform that enables mobile first users to be a smarter version of themselves leveraging the data templates created by other users in their community, which makes Lio progressively better for every successive user.Anurag Vijayvergia, co-founder and CPO, Lio
The global pandemic drove a step function jump in digital transactions for mobile-first small businesses and prosumers. As a result, the need for an easy-to-use mobile-centric platform that enables collection, analysis, and sharing of data is more acute than ever.”Dev Khare, a partner at Lightspeed