Saturday, July 13, 2024
HomeStart UpExplurger raises $4.5mn in Series A funding 

Explurger raises $4.5mn in Series A funding 

Explurger, a homegrown social media platform for travellers, secured $4.5 million in a Series A funding round. Affle (India) Limited led the funding, earning approximately $40 million pre-money valuation.

A statement released Wednesday states that Affle’s ownership in Explurger has risen to 9.03% following this funding round.

According to the company, the funds will be utilized to expand future growth initiatives and enhance community development by incorporating advanced technologies like artificial intelligence.

“We’re thrilled to welcome Affle on our cap table as part of Series A funding round,” said Jitin Bhatia, founder & CEO of Explurger. “Affle is already a leading name known for their tech innovations and R&D, and with them as an investor, it validates our vision to build a social media platform of the future that goes beyond likes and shares, and truly builds a global connected community using the advancements of AI.”

Explurger, introduced in 2021, is a social media platform designed for travellers and powered by AI. It provides features such as automatic travelogue creation and rewards for active engagement.

Aligned with its objectives, Explurger aims to capture the growing social media user base in India and globally. This comes amid a renewed interest in the travel sector in the post-pandemic era, as stated by the company.

The previous year, Explurger secured $1 million in a pre-Series A round from a group of investors.

Beyond Affle (India), Explurger enjoys backing from various investors. This includes India Discovery Fund, Jaipuria Family Office, Khimji Family Office, Action Group Family Office, Kajaria Tiles Family Office, Dhampur Sugar Mills Family Office, LetsVenture, and Lead Angels.

Additionally, angel investors such as Piyush Jain and Lovkesh Arora have invested in the company.

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BRL Editorhttps://businessreviewlive.com
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.