Campus Fund leads Plutus’ pre-seed funding round, raising $280k
- ByStartupStory | March 29, 2023
Plutus, a startup founded by students, has raised $280K in pre-seed funding, co-led by Campus Fund and other investors, including CIIE – IIM Ahmedabad, Shruti, and Alagu Preiyannan. The company plans to use the funds to develop new tools to increase the monetization potential for content creators, as well as strengthen partnerships with both creators and fans. According to a press release by Plutus, the capital will be deployed towards expanding its offerings and enhancing its revenue streams.
Plutus, a startup co-founded by Karata Dasmahapatra, Shivanshu Tyagi, and Sambhav Jain in June 2021, aims to enhance interactions between creators and their fans through community games, including both live and hyper-casual games. Its platform offers a two-way flow of content via live rooms, group chats, creator-led games, integrated payments, and analytics.
According to Plutus, the pay-as-you-go structure allows creators to earn more from their user base than through subscriptions or workshops, and in some cases, more than from advertiser promotions. This has resulted in increased repurchase rates, fan retention, and earnings for the creators, as per the company.
Plutus has announced its plans to expand its operations across India and Southeast Asia while introducing a new set of hyper-casual games and features. With over 3,000 creators already on board, and a waitlist of more than 10,000 creators, Plutus has reported a 35% month-over-month growth in its user base, alongside an impressive 86% Net Promoter Score (NPS). Campus Fund, which led the latest pre-seed funding round, counts HDFC Bank, IIFL Wealth, and well-known individuals such as Keisuke Honda, Deep Kalra, and Phanindra Sarna among its investors.
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