US and India-based Headout has raised ₹68 crores ($10 million) in series A funding from Nexus Venture Partners and Version One Ventures, its existing investors. The funds raised will be used to develop and digitize its data systems along with enhancing its inventory.
Headout is a managed marketplace helping the travelers with local experiences around the city. It was founded by Varun Khona, Vikram Jit Singh and Suren Sultania in 2015. It connects the fellow travelers with locals who provide a curated local experience in their neighborhood.
Varun Khona, Co-founder & CEO, Headout, said, “From day one, our ambition has been to help people discover the lively beat of our cities and connect them with experiential events and fascinating activities around us. Our focus is on understanding the city and going in a category rather than spreading ourselves thin across the globe,”.
Headout has served over 1 million customers so far in 18 cities around the globe. It has offices in cities like Bengaluru, New York, Dubai, and Berlin.
Over the past 8 months, Headout has grown its revenues over eight times, making it a profitable venture. It plans to mark its presence in 100 cities across North America, Europe, and the Asia-pacific region in the next 18 months.
Previously, Headout had raised around ₹12 crores ($1.8 million) in seed funding from firms like Version One Ventures, AngelList, Nexus Venture Partners, FundersClub, Ludlow Ventures, among a few angel investors.