Sequoia Capital India Invests About $8 Million In Just Dial

Posted Jul 24, 2009

JustDial is a local search engine company based in India.  Sequoia Capital India has invested 40 crore (around $8 million) into the search engine company recently.  This round of funding gives Sequoia about 10% equity in the company.

As a result of the investment, Sequoia Capital India Managing Director Sandeep Singhal will be joining Just Dial’s board of directors.  The last time I wrote about Singhal was when there was potential conflict of interest in Minglebox’s round of funding by Sequoia.

Sequoia has about $1.8 billion in capital for investments in India.  The investment in Just Dial is from a $300 million venture capital fund.

To get off the ground, Just Dial previously raised funding from private equity fund SAIF Partners and Tiger Global Management.  SAIF invested $10.4 million rupees in Just Dial in 2006.  Tiger invested about $16 million in Just Dial in 2007.  SAIF and Tiger own over 20% stake in Just Dial.

Just Dial plans on launching a classifieds section sometme in the next year.