Mumbai-based early stage venture capital fund Kae Capital along with Mumbai Angels has invested in Squeakee.com, a location-based platform for offers by offline and online retailers. Though the amount was undisclosed, Squeakee’s founder Abrar Shaikh confirmed that the company has raised a little under $1 million.
Kae Capital is an early-stage fund floated by Sasha Mirchandani (former India head of the US-based VC firm BlueRun Ventures). It typically invests $2,00,000-5,00,000 in the first round. Some of its recent investments have been shared taxi services company Sharedcab.com and e-payment processor company FortunePay.
Other companies in its portfolio include Myntra.com, Canvera, Healthkart.com, CloudByte, Mojo Entertainment.
The latest addition, Squeakee, is a search engine that combines deals and offers from online as well as offline retailers across categories like food, clothes, electronics, beauty and health, entertainment and more.
It charges on a monthly basis from the merchants for listings and has various packages, but is working on more models of revenue for the brands. Founded by Shaikh, Squeakee also does hyper-local search currently on for Mumbai region. It is otherwise available in Delhi and Bangalore. Shaikh was a part of initial team at Komli heading the business development and more recently GM and head of business for What’s-On-India, a TV metadata search company, prior to starting Squeakee earlier this year.
(Edited by Prem Udayabhanu)