New age content platform Social Swag, backed by actors Akshay Kumar and Rana Daggubati, Collective Artists and Mahesh Bhupathi, has announced it has raised $3.5 million in a pre-Series A round. was led by IMEF and Unicorn India Ventures, which made its first announcement on a platform specializing in the content creator economy.
Other investors who participated in the round are Vinay Agarwal, Ritesh Deshmukh, Raghu Subramanian, Edward Menezes, The Shekama Family Trust and Blume Founders fund.
Launched in 2020, Social Swag is building a celebrity/influencer commerce platform and has grown 40% mom in the last 5 months and is poised to continue this trajectory as the online story in India continues to generate exciting results, the company said in a statement.
Parth Gandhi, who started IMEF as an entertainment fund, said, “We are supporting various entertainment opportunities in India and with Social Swag offering on several products, we believe they will become an outlier in the market. space. That’s why we chose them as our first investment.
Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, said, “As a fund, we strongly believe that the content creator economy is ripe for explosive growth. We’ve been following Social Swag for almost 6 months now and are very optimistic about the gap they’ve been able to create with access to talent and the building technology to make it accessible. We are delighted to support them on their journey. »
Social Swag has several verticals in its offering like Masterclasses, Live Learning and Personal Shouts etc. The company operates on a subscription model giving unlimited access to curated content on the platform. A-list celebrities and directors like Lara Dutta, Bhavish Aggarwal, Abhinav Bindra, Akshay Kumar, Vicky Ratnani, Avinash Gowarikar are some of the most reputable names whose masterclasses are currently taking place on the platform. Social Swag aspires to create the largest made-in-India content platform for the world.
Rana Daggubatti, actress, entrepreneur and co-founder of Social Swag, said: “We are delighted to welcome our new investors and our goal will remain to create a platform where diverse people find content relevant to themselves through different products. It would be a mix of entertainment, personal development, skill enhancement and passionate content.
According to a recent industry report, there are over 1,50,000 professional content creators in India who are able to monetize their services. The global content creator economy is estimated at over $100 billion.
SNK Advisors advised Social Swag on the transaction.