STARTUP-STORIES
Juleo Raises $2.5 Million to Revolutionize the Dating Scene
SUMMARY
1. Juleo, a dating app aiming to solve the matchmaking crisis, raised $2.5 million from notable investors like Livspace founder Ramakant Sharma, Cred founder Kunal Shah, and others to build its team and enhance growth and marketing efforts.
2. Founded in 2023, Juleo uses an AI matchmaking genie to connect singles, focusing on facilitating in-person meetings and offering a subscription-based revenue model, with a mission to provide a safe and trustworthy platform for finding real love.
Dating app Juleo, designed to tackle the matchmaking crisis, has successfully raised $2.5 million in a funding round. Prominent investors in this round include Livspace founder Ramakant Sharma, Cred founder Kunal Shah, Acko cofounder Ruchi Deepak, and Groww founders Harsh Jain and Lalit Keshre.
Building a Safe and Trusted Space for Singles
Juleo plans to use the funds to build its team and enhance growth and marketing efforts. "Dating app burnout and mental health issues sadly affect singles globally today. We intend to build a trusted club for singles that provides them with a safe, trustworthy, and responsible service to find real love,” said founder and chief executive Varun Sud.
Innovative Matchmaking with AI
Founded in 2023 by Chiranjeev Ghai and Varun Sud, Juleo is a Delhi NCR-based platform offering an AI matchmaking genie. This technology shares curated profiles and arranges first meetings with compatible club members, addressing the common issue of users connecting online but not meeting in person.
“There are a lot of people who are building AI boyfriends and girlfriends, but we believe that real people need to meet and an AI matchmaker can make that process better,” Sud explained.
Subscription-Based Revenue Model
Juleo’s revenue model will follow a membership fee subscription approach. Sud highlighted the significant market potential, noting, “It will take one to two million users per annum in India to build a venture-scale business. This category is culturally important, with a propensity to pay, as seen with offline matchmakers who charge thousands or lakhs of rupees.”
Investor Confidence and Support
Investors are enthusiastic about Juleo's mission and potential. Ramakant Sharma, founder of Livspace, commented, “Driven by a team of incredibly sharp and talented professionals, Juleo is on a mission to solve one of the most complex consumer internet problems of our time. I am very excited to be a part of their journey and look forward to supporting them in all possible ways.”
Latest News
