Blog

AI-powered meme-based dating app Schmoozehas secured $4 million in a series A round led by Elevation Capitaland angel investors including founders of Ultrahuman, The Souled Storeand Paytm. 

The fresh funds will be allocated for growth and enhancing its AI engine. Founded by Vidya Madhavan and Abhinav Anurag, Schmooze says it has attracted over a million users within 10 months of launch in India. 

“We plan to use this funding to enhance and improve our AI systems. Currently, we are sitting on top of over a million meme interactions on Schmooze, which has strengthened our platform. A good chunk of the fundraise will be allocated to product development and optimising these algorithms to ensure they’re future-proof. Secondly, it will be directed towards growth and expansion efforts,” Madhavan tells YourStory. 

Schmooze was born while Madhavan dabbled around other ideas while pursuing her MBA at Stanford University.

Unlike traditional dating apps that rely on swipes, Schmooze leverages artificial intelligence to match users based on shared humour and personality traits through memes. Currently, the platform has attracted 3X more female users than all the mainstream dating apps operating in India, the company said in a statement. 

The company’s AI technology aims to shape the dating experience by creating dynamic profiles that highlight users’ personalities in an entertaining manner. Through the “Schmooze Predicts” feature, the AI delivers playful insights about potential matches, such as “You both have annoying relatives”.  

“Schmooze represents a strategic evolution in the dating app market. It is like the wingman Gen Zs didn’t know they needed—powered by cutting-edge AI and fueled by the rich tapestry of memes – it’s a deep dive into the psyche of today’s youth, offering a vibe-check that resonates with their unique cultural language,” said Amit Aggarwal, Principal, Elevation Capital. 

Recent estimates from Deloitte’s 2023 Gen Z and Millennial Survey reveal nearly 50% of Gen Z in India feel socially disconnected despite high digital engagement. Schmooze addresses this by turning superficial online interactions into meaningful connections through shared interests like memes.

Schmooze has also introduced AI-driven features like Roast AI, which mimics conversations with a comedian, and Rant AI, a responsive digital diary, providing users a sense of companionship even when they aren’t actively engaging with others.