Vernacular and video original content platform YourQuote, on Wednesday, said it has raised $ one million (Rs.6.40 crore) seed funding.

These fresh funds would be used to help enhance the overall product and growth, expand the video platform, and scaling the community across India. This is expected to unlock the untapped potential of user-generated content.

The funding, led by IDG Ventures India, also saw participation from Atul Goel of the Essel City Group and Axilor. YourQuote was part of Axilor’s 100-day accelerator program, as part of its Summer ‘17 batch.

Started by IIT-Delhi alumni Harsh Snehanshu and Ashish Singh in early 2017, YourQuote has shown rapid organic growth. Its mobile app is available on Android as well as iOS, and an overall user base of over five lakh from across India.

With over 45 lakh posts (original video and written content) in more than 15 languages, the platform has been registering an impressive 20-30% monthly growth. Via their offline community, YourQuote has so far organised more than 300 offline Open Mic events across the country in more than 35 cities and colleges, which further strengthens the community engagement, said Harsh Snehanshu, Co-Founder & CEO.

The recently-concluded funding round will further help it build on its early success by expanding into user-generated video content and scaling up our offline networking initiatives, he added.

With the capital infusion, the platform will be taking its core value proposition further by increasing video-based creation and consumption, scaling its offline activities on a pan-India level to create a large and diverse community of contributors and readers. YourQuote aims to provide an integrated content platform for self-expression to India’s growing millennial population, largely focused on vernacular language users, which today form the bulk of the user base, he said.

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