The Series A funding round was co-led by Accel Atoms, Sequoia Capital India and Stellaris Venture Partners
Influencers can use this platform to launch courses, conduct paid webinars, and launch free and paid communities through the Rigi app, the startup claims
Rigi.Club has raised a total of $11.2 Mn in funding so far from Accel Atoms, Sequoia Capital India, and Stellaris Venture Partners
B2B2C startup Rigi.Club, a platform for creators, influencers and celebrities to grow, manage and monetise their community, has raised $10 Mn in a Series A funding round.
According to the startup, the fund raised will be used to develop and expand its team and products, which will ultimately be scalable across millions of users.
The round was co-led by Accel India, Sequoia Capital India and Stellaris Venture Partners. Prominent angel investors Nitish Mittersain (Nazara), Apaksh Gupta (OneImpression), Anupam Mittal (Shaadi.com) and creators including Tanmay Bhat, among others also participated in the round.
Founded in October 2021 by Swapnil Saurav and Ananya Singhal, Rigi.Club’s mission is to empower creators to manage and monetise their communities. It helps influencers to do this by enabling them to monetise their community across platforms including WhatsApp, Telegram, or Instagram.
“One of the core value propositions of Rigi is that it is never a platform-specific product, and content creators can monetize any and every online distribution channel or platform using the app. Most other players in the same space are centered around onboarding more users on their apps and platforms with the help of creators but Rigi is built keeping the content creators in mind and enabling them to monetize their existing follower base first,” Swapnil Saurav, cofounder and CEO of Rigi.Club, told Inc42.
Influencers can use Rigi’s platform to launch courses, conduct paid webinars, and launch free and paid communities through its app, as per the Bengaluru-based startup.
Rigi.Club has raised a total of $11.2 Mn in funding so far from Accel Atoms, Sequoia Capital India, and Stellaris Venture Partners, Singhal told Inc42.
Over the last five months, Rigi has built a user base of more than 200,000 users. Their user base is spread within the 18 to 24 years of age group across India. In the next 12 months, the startup aims to increase this user base by more than 10 times.
Since its launch, the startup has been growing at the rate of about 100% month-on-month. It is heartening to see that within two months, the startup has helped influencers more than triple their earnings, added Saurav.
Furthermore, Rigi.Club was part of the first cohort of Accel Atoms, a program by Accel India to support Pre-Seed startups.
“As part of the first Atoms cohort their (founders) speed of execution in building a platform that supports different social channels has been just amazing. With the creator economy booming, we’re thrilled to be partnering with Rigi,” said Prayank Swaroop, partner at Accel India.
Rigi.Club has surpassed 50K downloads, and 150K users in less than five months since its launch last year.
Meanwhile, some of the B2B2C startups that recently raised funds include SaveIN, Canpe Solutions, DigiSaparsh, among others.
Delhi-based startup SaveIN raised $4 Mn in seed funding a day before from institutional investors including Y Combinator, 10X Group, Leonis VC, Goodwater Capital, Nordstar, Rebel Fund, Pioneer Fund, Soma Capital and SCM Advisors.
B2B2C startup Canpe raised an undisclosed seed funding round led by Axilor in 2021. The round also saw participation from Yatra Angel Network, Manipal Technologies, and BetaPlus Capital Partners.
Furthermore, some of the startups in the B2B2C space that have caught attention last month have also been included in the list compiled by Inc42. The list includes – Farm Infinity, Caleedo, Cosmofeed, among others.
Cosmofeed directly competes with Rigi.Club. Launched in 2021, this Telegram-like app allows creators to build automated subscription channels, collect payments on customisable schedules, develop gated content to monetise data, create and manage events and conduct live classes and cohort-based discussions.
Cosmofeed claims to have reached 50K+ consumers in February 2022 and says that 20% of them are paid users. It plans to grow its user base to 50 Lakh by 2025.
