Celebrity engagement startup Tring raises $5 million in pre-Series A funding led by Kalaari Capital

• ByStartupStory     |    October 21, 2022

A Pre-Series A fundraising round led by Kalaari Capital garnered $5 million for Tring, a Mumbai-based platform for celebrity engagement. The company gave the startup a $2 million investment and has the option to give it another $2.5 million in a future tranche. Sujeet Kumar (Udaan.com), Redbrook Pte (Singapore), and Blume Founders Fund also took part in the investment round.

According to the firm, the cash raised will be utilised to enhance the platform, add additional celebrity-fan engagement opportunities, and further monetize its user base of over 200,000 subscribers.

Akshay Saini, Rahul Saini, and Pranav Chabhadia launched Tring, a platform for celebrity engagement, in December 2019. It currently has 10,000+ celebrities and influential people on board.

The firm offers customers the option to make every moment unique with a personalised recorded video from their favourite celebrity, bridging the gap between fans and celebrities.

Akshay Saini, the CEO and co-founder of Tring, commented on the situation, saying, “We’re striving to establish Tring as the one-stop shop for all digitally personalised encounters with celebrities in India and, soon, Asia. We are thrilled that dependable organisations like Kalaari Capital are partnering with us on this adventure. Since Kalaari Capital firmly believes in the creator economy, they are the best partners as we continue to expand quickly throughout Asia over the coming quarters.

The firm faces competition from global platforms like Memmo (Europe) and Cameo (US), which have experienced explosive growth and have drawn a lot of user attention. It states that more than a million users frequent the website to engage with celebrities, and it expects to soon reach monthly revenue of more than 100,000.

Partner at Kalaari Vamshi Reddy commented on the development, saying, We are overjoyed to support Akshay, Rahul, and Pranav in their mission to upend the Indian celebrity fan engagement market. The team has demonstrated exceptional execution skills and has in-depth knowledge of the industry opportunity.

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