Chennai: Explurger, a new-age Made in India social media app for global audience, has raised $1 million in pre-Series A from a clutch of investors, the company has said. The capital raised by the start-up, which was bootstrapped until now, will power the team expansion, product features and user acquisition.
The current funding round led by Ruchirans Jaipuria (Managing Director, Jaipuria Group), also saw participation from Lovkesh Arora (Founder & CEO, Phithos Technologies), Piyush Jain, and from other angel investors through LetsVenture, according to an official statement.
Explurger, which went live during the pandemic, already has users from more than 40 countries acquired organically. It is the first AI-powered social media app that uses the thrill of gamification, and travelogues to engage its users. It is also the first in the category to reward its users for being socially active on the platform. The app allows users to claim deals and discounts on more than 30 popular brands, such as Tata Sky, Hamleys, Lifestyle, Lenovo and Ferns N Petals.
"The digital transformation is happening at a rapid scale. At the time when global IT and social media giants have Indian-origin leaders at the helm, it’s time India has its own social media platform competing with the best in the field. The fund raised will take us closer to that goal for the country and put India on the global map. The app resonates with the Atmanirbhar Bharat vision. It will accelerate our growth story," said Jitin Bhatia, founder of Explurger.
Explurger said it is planning a big launch soon where a few key announcements will be made.
"We see a huge demand for a safe, clutter-free social networking zone that people can trust. There is a vacuum for a gamified social media app which is user-centric in its approach. That's the gap we are addressing. Our unique features and cutting-edge technology are helping us grow rapidly," he added.