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Now Floats

Acquired

2 known investors

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SaaS platform enabling SMEs to build an online presence.

Also known as NowFloats · Nowfloats Technologies Limited · Nowfloats Technologies Pvt. Ltd.

Founders & leadership

JSJasminder Singh Gulati
Jasminder Singh GulatiCo-FounderJasminder Singh Gulati held director-level roles at Microsoft and Broadcom, and holds a bachelor's degree in computer science with a focus on artificial intelligence. He founded NowFloats, an AI-powered SaaS platform for small businesses, which was later acquired by Reliance Jio, and has since founded Kolam Venture Studio and served as a founder volunteer at Citizen Stack.

Investors · 2

Iron Pillarlisted by Iron PillarBangalore

How we know: Iron Pillar's portfolio page · Not right? Tell us

Key figures

latest reported
Businesses brought onlineJan 2019130,000 businesses
Employee countJan 2026478 employees
Equity financing raised prior to Reliance dealDec 2019$12M
Glassdoor ratingJan 20264.5 out of 5 (314 reviews)
Net loss (FY2016-17)Mar 2017$314.3M
Net loss (FY2017-18)Mar 2018$474.9M
Net loss (FY2018-19)Mar 2019$432.4M
Retail partnersDec 2019300,000 partners
Revenue (FY2016-17)Mar 2017103,800,000 INR
Revenue (FY2017-18)Mar 2018187,300,000 INR
Revenue (FY2018-19)Mar 2019325,600,000 INR
Revenue (FY25)Jan 2025218,000,000 INR
Total funding raisedJan 2026$15.8M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 3

launches, deals, and filings
Dec 2019
Reliance Strategic Business Ventures acquires 85% stake in NowFloats for $20 million

Reliance Strategic Business Ventures Ltd, a wholly owned subsidiary of Reliance Industries, acquired an 85% stake in NowFloats Technologies Pvt. Ltd for Rs 141.64 crore ($20 million) in cash, disclosed in a stock-exchange filing. RSBVL said it would invest an additional Rs 75 crore (about $10.6 million), subject to NowFloats meeting agreed milestones, to raise its holding to about 89.66%, expected to complete by December 2020. RIL stated no governmental or regulatory approvals were required and the deal was not a related-party transaction. The Rainmaker Group was sole financial adviser to NowFloats.

$20M source ↗

Jan 2018
NowFloats acquires chat-based local business platform LookUp

NowFloats acquired LookUp, an India-based chat service connecting consumers to local businesses. LookUp was backed by Khosla Impact, Biz Stone, Catamaran Ventures and Global Founders Capital.

source ↗

Jan 2017
NowFloats raises $10 million Series B

The company raised $10 million (Rs 73 crore) in a Series B round.

$10M source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

▸Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Now Floats do?
NowFloats is a Hyderabad-based provider of web presence and digital marketing services for small businesses.
Who founded Now Floats?
Now Floats was founded by Jasminder Singh Gulati.
Who are Now Floats's investors?
Now Floats's investors include Hyderabad Angels, Iron Pillar.