Creator financial system start-up Rigi raises Rs 100 crore from Elevation Capital | Jobs Current


Rigi, a platform that helps creators monetize their viewers, has grown 100 crore ($12.3 million) led by Elevation Capital, with contributions from Accel, Stellaris and Sequoia.

The spherical was additionally attended by angel traders similar to cricketer Mahendra Singh Dhoni, Cred’s Kunal Shah, NoBroker’s Amit Agarwal, Nation Delight’s Chakradhar Gade and creator Sharan Hegde amongst others.

Rigi, based in 2021 by Swapnil Saurav and Ananya Singhal, offers creators and influencers with instruments to develop, handle and monetize their communities with instruments that assist handle subscriptions, create programs and workshops, and combine with social platforms.

It plans to make use of engineering funding funds to construct extra instruments, enterprise into extra device classes, and increase geographically in Southeast Asia, chief govt Saurav VCCircle mentioned.

“We really feel that in Southeast Asia this product will work very nicely for creators,” he mentioned, including that creators in geography are replicating conduct much like that in India. The startup has already began its operations in Indonesia.

The ultimate spherical comes roughly 9 months after Rigi closed the $10 million Sequence A spherical in April 2022. Up to now, the Bengaluru-based startup has raised $25 million in three rounds inside 14 months of inception.

The startup is the second enterprise of Saurav and Singhal, who’re BITS Pilani graduates. They beforehand based actual cash gaming platform HalaPlay which Nazara Applied sciences and Delta Corp acquired in 2020.

Rigi claims to have helped over 10,000 creators throughout 30+ classes to monetize their viewers by channels similar to Whatsapp, Telegram, paid programs, amongst others. With the instruments, creators can concentrate on scaling and fascinating their viewers as a substitute of spending time managing operations and constructing expertise.

“What bought us excited (for Riga) was the holistic set of merchandise that the consumer may get,” mentioned Mayank Khanduja, a companion at Elevation Capital, including that the instruments enable creators to monetize their viewers early of their journey.

Elevation has beforehand supported startups similar to Sharechat, Turnip, and Headfone, all of which assist the burgeoning creator financial system.

“The creator financial system is a brand new employment paradigm. However that is only a nascent ecosystem. All creators want instruments to be extra environment friendly and develop,” Prayank Swaroop, a companion of Accel India, mentioned in an announcement.

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