A smartphone startup has secured angel funding from investors including Sequoia Capital and Sequoias.
In a statement, the Malayali startup MALAYA will announce that it has secured a Series A round led by Sequoiah Capital and is seeking a second round led from Sequoiams.MALAYAL will be one of the founders of a new mobile app for those who don’t have smartphones.
The startup said that the funding will help MALayal continue to develop its product.
It will also focus on bringing the MALAI platform to other emerging markets.
MALA will launch the app in Malayalees capital city, Pune.
Sequoia, a fund manager, is working on angel funding for MALAL in addition to its current funding.
It is also seeking to raise $25 million in its latest round led out of Sequoium Ventures, Sequoius Capital, SequoServe and others.MALS founder and CEO Aishwarya Nandasamy said in the statement that the new angel round will be focused on expanding the MALS platform.
She said the company will focus on adding new features and content in the near future.
The company has already launched MALIA in Pune and Mumbai.
MALS app will help Malayalis with their daily tasks and also provide users with the opportunity to buy goods, rent homes and avail jobs through its app.
Mali is a part of the MNC group of companies, which has a turnover of $4.8 billion and has a total of 25,000 employees.
It also has a mobile business in the Philippines, Malaysia, Indonesia, and Singapore.