Hong Kong-based Vectr Ventures has made its first investment in India's burgeoning startup ecosystem by seed funding LafaLafa, a mobile-first digital coupons and cashback aggregator.
The startup will use the money raised to strengthen its technology back-end and expand within Asia, said Yosha Gupta, founder of LafaLafa.
"They (Vectr Ventures) have an interesting portfolio of startups withâ€¦very strong ties in China and Hong Kong. We were sure we wanted them on board in our journey especially as we expand in the rest of Asia," Yosha said.
Vectr is an early stage investor in tech startups with over 30 companies in its portfolio. The VC firm also runs a venture studio in Hong Kong.
In September, LafaLafa had secured $125,000 in funding from Silicon Valley-headquartered startup accelerator-cum-early stage VC firm 500 Startups.