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HomeEconomyCreator economy startup Rigi raises Rs100 crore from Elevation Capital

Creator economy startup Rigi raises Rs100 crore from Elevation Capital

Rigi, a platform that helps creators monetize their audience, ¥$100 million ($12.3 million) led by Elevation Capital with participation from Accel, Stellaris and Sequoia.

Angel investors including cricketer Mahendra Singh Dhoni, Cred’s Kunal Shah, NoBroker’s Amit Agarwal, Country Delight’s Chakradhar Gade and creator Sharan Hegde also participated in the round.

Founded in 2021 by Swapnil Saurav and Ananya Singhal, Rigi empowers creators and influencers to grow, manage, and monetize their communities through tools that help them manage subscriptions, create courses and workshops, and integrate with social platforms. We provide tools to do so.

The company plans to use the money to invest in engineering, build more tools, venture into more categories of tools, and expand geographically in Southeast Asia, CEO Saurav told VCCircle. rice field.

“In Southeast Asia, I think the product will work very well for creators,” he said, adding that geographical creators replicated similar behavior in India. The startup has already started operations in Indonesia.

The latest round comes nearly nine months after Rigi closed its $10 million Series A round in April 2022. So far, the Bangalore-based startup has raised $25 million in three rounds in the 14 months since its inception.

This startup is the second venture of BITS Pilani alumni Saurav and Singhal. They previously founded his HalaPlay, a real money gaming platform acquired by Nazara Technologies and Delta Corp in 2020.

Rigi claims to have helped over 10,000 creators across more than 30 categories monetize their audience through channels such as Whatsapp, Telegram and paid courses. These tools allow creators to focus on scaling and engaging with their audience, rather than spending time managing operations and creating technology.

Mayank Khanduja, partner at Elevation Capital, said:

Elevation has so far backed start-ups like Sharechat, Turnip, and Headfone, all of which are supporting the growing creator economy.

“The creator economy is the new paradigm of employment. But this is a nascent ecosystem. All creators need tools to be more efficient and grow,” said Prayank Swaroop, partner at Accel India. said in a statement.

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