[ad_1]
Explurger is a homegrown social media platform that gamifies the process of documenting one’s travels. Launched by co-founders Jatin Bhatia and Sonu Sood, this app was part of MeitY Startup Hub’s Appscale Academy Class of 2022. With this funding, Explurger will use the fresh capital for future growth.
Social media platform Explurger has raised an investment of $4.5 million (Rs 37.3 crore) in Series-A funding led by Affle (India) Limited at a pre-money valuation of about $40 million (Rs 338 crore).With this investment, Affle (India) Limited will hold a 9.03% stake (on a fully diluted basis) in Explurger.
Speaking about the investment, Jitin Bhatia, Founder & CEO of Explurger, said, “We’re thrilled to welcome Affle on our cap table as part of Series-A funding round. Affle is already a leading name known for their tech innovations and R&D, and with them as an investor, it validates our vision to build a social media platform of the future that goes beyond likes and shares, and truly builds a global connected community using the advancements of AI. We look forward to the next phase of our growth story and are grateful for the confidence shown in us by the team at Affle.”
Launched in 2021 in India, Explurger is a “Gamified” AI-powered vertical consumer-tech social media platform for travelers. Currently, it has more than 8.5 million users from over 75 countries and has also been listed by Google as one of “10 Most Innovative Apps Making Mark in India and Beyond”. The smartphone phone for Android and iOS devices packs in features such as an AI-enabled automatic travelogue generator, a Rewards and Bucket List to cater to the distinctive needs of travelers and explorers. In 2022, Explurger was picked to be part of the MeitY Startup Hub’s (a Google and MeitY initiative) Appscale Academy Class – a cohort of 100 Indian early- to mid-stage startups.
The travel and tourism industry continues to be on the rise, with a projected contribution of about 8.4% to the Global GDP in 2023 (WTTC) and a projected contribution of about 5.4% to India’s GDP in 2023 (WTTC) with an estimated 124% increase for the following decade. Explurger is looking to tap into this opportunity by attracting the growing social media users in India and the demographic that is looking to document their travel experiences in a post-pandemic world.
Social media platform Explurger has raised an investment of $4.5 million (Rs 37.3 crore) in Series-A funding led by Affle (India) Limited at a pre-money valuation of about $40 million (Rs 338 crore).With this investment, Affle (India) Limited will hold a 9.03% stake (on a fully diluted basis) in Explurger.
Speaking about the investment, Jitin Bhatia, Founder & CEO of Explurger, said, “We’re thrilled to welcome Affle on our cap table as part of Series-A funding round. Affle is already a leading name known for their tech innovations and R&D, and with them as an investor, it validates our vision to build a social media platform of the future that goes beyond likes and shares, and truly builds a global connected community using the advancements of AI. We look forward to the next phase of our growth story and are grateful for the confidence shown in us by the team at Affle.”
Launched in 2021 in India, Explurger is a “Gamified” AI-powered vertical consumer-tech social media platform for travelers. Currently, it has more than 8.5 million users from over 75 countries and has also been listed by Google as one of “10 Most Innovative Apps Making Mark in India and Beyond”. The smartphone phone for Android and iOS devices packs in features such as an AI-enabled automatic travelogue generator, a Rewards and Bucket List to cater to the distinctive needs of travelers and explorers. In 2022, Explurger was picked to be part of the MeitY Startup Hub’s (a Google and MeitY initiative) Appscale Academy Class – a cohort of 100 Indian early- to mid-stage startups.
The travel and tourism industry continues to be on the rise, with a projected contribution of about 8.4% to the Global GDP in 2023 (WTTC) and a projected contribution of about 5.4% to India’s GDP in 2023 (WTTC) with an estimated 124% increase for the following decade. Explurger is looking to tap into this opportunity by attracting the growing social media users in India and the demographic that is looking to document their travel experiences in a post-pandemic world.
[ad_2]
Source link