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Headout raises $1.8 mn from Version One Ventures, 500 startups, Nexus Venture Partners, others

US-based Headout, a mobile marketplace for last-minute travel and event bookings,
has raised $1.8 million in seed round led
by US-based early-stage fund Version One Ventures, Nexus Venture Partners, 500
Startups and Arena Ventures. The app is
currently live in New York and Las Vegas. The nine-month-old
company has offices in New York, San Francisco and Bangalore.

US-based Headout, a mobile marketplace for last-minute travel and event bookings,
has raised $1.8 million in seed round led
by US-based early-stage fund Version One Ventures, Nexus Venture Partners, 500
Startups and Arena Ventures. The app is
currently live in New York and Las Vegas. The nine-month-old
company has offices in New York, San Francisco and Bangalore.

According to a Economic Times report, Angellist’s
Maiden Lane Ventures, Funders Club, Haystack Fund, Ludlow Ventures, Dreamit Venture,  Fabrice Grinda (OLX), Snapdeal
co-founders Kunal Bahl and Rohit Bansal, WhatsApp vice president Neeraj Arora
and Facebook adviser Rick Marini also participated in this round.  

“A few months ago, we tried to raise a small
amount, which was really difficult because we didn’t have numbers. That’s when
we realized it’s the product (that comes) first. Money follows the product,” Co-Founder and CEO Varun Khona, told the
Economic Times.

Khona (extreme left) started Headout along
with college batchmate Suren Sultania (extreme right) and IIT graduate Vikram Jit Singh (centre).

“For this fundraising, we raised a half a million
dollars in the first couple of days, and went on to be offered twice the amount
we were expecting to raise,” Khona was quoted in the report as
saying.

According to the report, the startup will
use the funds primarily to expand operations to 12 cities across the US by the
end of the year, and expand the technology, product, sales and launch teams
across the three cities where it is present.

The mobile marketplace will be accessible to travelers
in India and will go live in the country within the next two years, Khona told the Economic Times.
The company is in early partnership talks with travel companies globally and in India, he added
in the report. 

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