Startup Funding – Reg: As affordable smartphones and internet access proliferate across the country, digital creators and their associated economies are expanding. That’s why many people are now increasingly looking for earning opportunities, turning to digital content creation. And some startups have also come forward to help manufacturers in this.
Rigi, a startup that helps creators monetize their communities, has now raised nearly ₹100 crore in its latest funding round.
This investment round for the company was led by Elevation Capital but interestingly the investment round also saw participation from Accel, Stellaris, Sequoia Capital along with some leading angel investors like former Indian cricket captain Mahendra Singh Dhoni (MS Dhoni) and Sharan Hegde. Kunal Shah (CRED), Amit Kumar Aggarwal (No Broker) and others also participated.
The company is expected to use the funds raised to develop equipment for upcoming new segments related to content manufacturers, engineering and to expand its footprint in overseas markets such as South East Asia.
We tell you that the company has already started its operations in Indonesia.
Startup Funding – Reg
Rizzi was started in 2021 by Swapnil Sourav and Ananya Singhal together. The company provides services to creators and influencers from building, managing and monetizing their communities.
The tools provided by the company help creators and influencers manage subscriptions, create courses and workshops, and manage presentations.
As claimed, the company’s app has over 200,000 users and has so far helped over 10,000 creators across 30 categories monetize their communities through WhatsApp, Telegram, paid courses and more.
Speaking about this new investment, Company CEO Swapnil Sourav said;
“We hope our product will be of great use to manufacturers in the South East Asian market as well. This is because the behavior of manufacturers in this geographical location is almost similar to that of India.
Earlier, Rigi raised around $10 million in its Series A funding round in April 2022 and now with this new investment, the total investment raised by the company stands at $25 million.