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Sequoia backs Indian online brand complaints business Akosha

3 Jul 2014

dollars money cashGlobal early-stage investment house Sequoia Capital has invested $5.2m in Indian online consumer service and brand feedback platform Akosha.

That capital includes previous investment through a seed round according to Akosha, which said the funding would be used expand its services for customer service benchmarking, online feedback CRM and reputation management.

Sequoia managing director Shailendra Singh said, “We first made a seed investment in Akosha several quarters ago, and we’re delighted to see the progress and evolution of the model.

“Consumer use of the online product has grown over 20x in the this time period with almost no marketing, and over 100 brands now use the Akosha platform every week, and over a dozen marquee brands have converted to paying customers.

“Akosha is creating a new business model, where consumers can use Akosha to connect with all brands using a single platform in a private and mutually beneficial manner.

“We’re delighted to be backing Ankur to create a pioneering business model and company.”

Last month Indian sales e-commerce startup FashionAndYou raised a $10m round from new and existing venture backers including Sequoia.

Smile Group, Norwest Venture Partners, Intel Capital and Nokia Growth Partners also participated in the round.

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