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Deals app “The Blue Book” raises $500K in seed funding from Indian Angel Network & LetsVenture

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The BlueBook is a mobile app for deals at nearby eateries

Bengaluru – Dec 22, 2016. RedNewswire/-

Hyderabad-based TheBlueBook is a mobile app for availing deals from nearby F&B stores. It has raised $500K in seed funding round led by Indian Angel Network.

Lets Venture and independent investors from Singapore and the US also participated in the round. The investors include Srinubabu Gedela, CEO of OMICS International, Avinash Vashistha member of IAN and former Chairman & Country MD at Accenture as well as Rajiv Mehta, CEO at Arvind Lifestyle.

Avinash Vashishta and Srinubabu Gedela will join the board of BlueBook.

The Blue Book gives one complimentary voucher on app download. Earlier offered a paid voucher book where users could avail privileged discounts on products and services in their location. Operates on a subscription model where users pay a monthly fee of INR 99 to access discounts at popular restaurants, bars, cafes, wellness and entertainment outlets.

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The company was founded by Varun Kumar Akula (chief executive), Alok Medikepura Anil (chief operating officer) and Reetika G (chief marketing officer) in 2013.

 Varun Kumar Akula, BlueBook co-founder said…

“The capital raised will be deployed in consolidating the merchant and user base in Hyderabad, Bangalore and Gurgaon, apart from investing on the product and technology to offer deep customer analytics, loyalty solutions for merchants and unique payment solutions. We aim to be present in all major metros in the next few quarters.”

The service is currently present in Hyderabad, Bangalore and Gurgaon. The company claims it has over 100,000 users and tie-ups with over 1,200 merchants, claims to be acquiring 100+ users every day. It claims to be growing at 40% month-on-month as of Dec 2016.

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