UrbanClap raises $10 million in series-A funding

Mobile services marketplace, UrbanClap, has raised $10 million in funding from its existing investors SAIF Partners and Accel Partners. The new round is the second round of funding by the comapny. Earlier, this year it had raised around $1.6 million in seed round from SAIF Partners, Accel Partners and Snapdeal founders-Kunal Bahl and Rohit Bansal. The company, which is presently serving Delhi-NCR, Bengaluru and Mumbai, plans to invest the fresh funds for scaling its operation across the country. It also plans to strengthen technology and also grow the strength of the team to 500 from current 100 members. The company, which started its operation in October last year, was founded by IIT alumni Abhiraj Bhal, Varun Khaitan and former Twitter engineer Raghav Chandra.

REad The Hindu's full report here.