Y Combinator-backed Betterhalf.ai raises $3M to boost engagement

With extensive business plans, the startup said it is witnessing $75,000 in monthly revenue and is growing at 30 per cent a month.

New Delhi: Y Combinator-backed AI matrimony platform Betterhalf.ai on Wednesday announced it has raised $3 million as part of its pre-series A funding.

Y Combinator is an American seed money startup accelerator. Betterhalf.ai was a participant in the Y Combinator W21 batch and the funding saw the participation of venture capital firms including S2 Capital, Quiet Capital and angel investors like Kunal Shah and Samvit Ramadurgam.

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Prior to new funding, Betterhalf.ai raised a $2.3 million seed round from Y Combinator, Tribe Capital, Nurture Ventures and Saurabh Garg, Nobroker Founder/CBO and Shailesh Rao, Former MD of Google India and former partner of TPG Capital.

The startup said in a statement that it plans to utilise the fund into boosting app engagement, building monetisation features and product discovery across organic channels.

“The closing of this round post Y Combinator Demo Day is a marker of the investors’ confidence on readiness of 100 million urban Indians for a new-age matrimony app and allows us to take the company from $1 million run rate to $5 million run rate for our next Series A round,” said Pawan Gupta, Co-founder of Betterhalf.ai.

Betterhalf.ai was founded in 2016 by Rahul Namdev, an MIT educated AI expert and Gupta.

Unlike the conventional matrimony apps, Betterhalf.ai focuses on behavioural matching criteria – compatibility matching with likes, dislikes, and interests. Currently, the app facilitates over a million matches and a thousand marriages across a user base of 700,000 urban millennials.

With extensive business plans, the startup said it is witnessing $75,000 in monthly revenue and is growing at 30 per cent a month.