Tring, a Mumbai-based celebrity engagement platform, raised $5 million in a Pre-Series A round led by Kalaari Capital, which invested $2 million and has the option to further invest $2.5 million in a new tranche at a later date. The round also saw participation from Blume Founders Fund, Redbrook Pte (Singapore), and Sujeet Kumar (Udaan.com).
To help bridge the gap between fans and celebrities, Akshay Saini, Rahul Saini, and Pranav Chabhadia launched Tring in December 2019. The company claims that more than a million people use its website each month to engage with celebrities and expects to achieve a monthly revenue of more than 100,000.
Akshay Saini, CEO, and Co-founder, of Tring, said, “India is a huge market for celebrity engagement services with users demonstrating high fandom levels. We are working to make Tring the one-stop marketplace for all personalized digital interactions with celebrities in India and Asia. We are delighted to have robust institutions like Kalaari Capital joining us on this journey. Kalaari Capital’s strong belief in the creator economy makes them the ideal partners while we continue growing rapidly across Asia over the next few quarters.”
Tring is in direct competition with international platforms like Memmo (Europe) and Cameo (US), which have experienced rapid growth and have drawn a lot of user engagement.
Further, Vamshi Reddy, Partner at Kalaari, stated, “We are thrilled to back Akshay, Rahul and Pranav in their journey to disrupt the celebrity fan engagement space in India. The team has shown strong execution capabilities and brings deep understanding of the market opportunity. We are confident in their ability to build a leading fan engagement platform from India and we are proud to welcome them to the Kalaari family.”