Explurger Raises $4.5M in Series A Round Led by Affle (India) Ltd
- ByStartupStory | February 15, 2024
Travel-focused social media platform Explurger, co-founded by Bollywood actor Sonu Sood, has raised $4.5 million (INR 37.3 crore) in its Series A funding round led by Affle (India) Ltd.
In a statement, Explurger disclosed that the funding round took place at a pre-money valuation of $40 million (INR 338 crore). However, the startup did not reveal the names of the other investors who participated in the funding round. Post the investment, Affle (India) will hold a 9.03% stake in the startup. Explurger stated that it would utilize the fresh capital to fuel its growth.
Founded by Sood and Jitin Bhatia in 2021, Explurger operates a social media app for travelers that creates a personalized travelogue for each user. The app utilizes gamification principles and offers rewards to users for being active for extended periods on it.
The startup boasts over 8.5 million users across 75+ countries. Commenting on the fundraise, Explurger CEO Bhatia said, “Affle is already a leading name known for its tech innovations and R&D, and with them as an investor, it validates our vision to build a future social media platform that goes beyond likes and shares and truly builds a globally connected community using the advancements of AI.”
Explurger’s investors include India Discovery Fund, Jaipuria Family Office, Khimji Family Office, Action Group Family Office, and Kajaria Tiles Family Office. The startup is aiming to tap into the rapidly growing social media market in India, amid renewed interest in the travel segment, to boost its user numbers. Besides giants like Meta and Snapchat, Explurger competes with homegrown startups like Slick.
With the growth in the Indian startup ecosystem, a number of Bollywood celebrities, including Sood, have ventured into entrepreneurship and investment over the past few years. Sood also founded the job search platform Pravasirojgar in 2020.
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