Juleo, a dating app focused on addressing the matchmaking crisis, has successfully raised $2.5 million in a funding round. Investors include Ramakant Sharma, founder of Livspace; Kunal Shah, founder of Cred; Ruchi Deepak, cofounder of Acko; and Harsh Jain and Lalit Keshre, founders of Groww, among others.
The newly acquired funds are earmarked for team expansion, growth, and marketing initiatives. Varun Sud, the founder and chief executive of Juleo, emphasized the global issue of dating app burnout and its impact on mental health. The platform aims to create a trusted club for singles, offering a safe, reliable, and responsible service to help users find genuine connections.
Founded in 2023 by Chiranjeev Ghai and Varun Sud, the Delhi NCR-based platform operates as a singles’ club. It features an AI matchmaking assistant that curates profiles and facilitates initial meetings between compatible members.
Sud pointed out a common problem with dating apps: while users often connect online, they rarely meet in person. Juleo aims to address this issue by encouraging real-life interactions, enhanced by the guidance of an AI matchmaker. The company’s revenue model is based on a membership fee subscription.
Sud noted that achieving venture-scale success in India would require attracting one to two million users annually. He highlighted the cultural significance of matchmaking in India, where people are willing to pay substantial amounts to premium offline matchmakers.
Ramakant Sharma, founder of Livspace, expressed enthusiasm for the investment, praising Juleo’s talented team and their mission to solve a significant consumer internet problem. He looks forward to supporting the company in various ways.
