Tiger Global in talks to invest in young Indian social network at $170M valuation – TechCrunch

Who says there is no place for a new social network?

Tiger Global is in advanced stages of negotiations to lead a $ 15 million to $ 20 million round in a seven-month-old family that valued Indian startups at around $ 170 million, with four people familiar with the matter telling TechCrunch Told.

The US investment firm has offered a charge sheet to Indian startups, but the deal – A Series – has not been closed yet, with some stating on anonymity that the talks are private. General Warning: Conditions may change, or the deal may not take place.

Family, Which means family in Hindi, has been created “private social networks like Reddit” which connect communities “on the basis of culture, creed, beliefs, interests, interests”. [and] The profession

According to the Mobile Insight firm (an industry executive committee shared with Anichrunk), the startup’s six-month-old app launched by more than 11 million monthly active users in December last year.

Kutumb was valued at around $ 15 million last year, when it raised funds from Sequoia Capital India’s Surge Accelerator. According to insight firm Traxxn, it raised about $ 2.5 million in its funding round.

Tiger Global declined to comment. One of the co-founders of Kutumb did not respond to a request for comment.