Roposo raises Rs 61 crore funding from existing investors Tiger Global & Bertelsmann
Documents from Paper.vc, a business intelligence platform stated that Roposo has recently raised Rs 61 crore from its existing investors — Bertelsmann India Investments and Tiger Global Management. The startup bagged the funding as a part of its extended Series C funding round.
Founded by IIT Delhi alumni Mayank Bhangadia, Avinash Saxena and Kaushal Shubhan, Roposo offers an interface similar to television that helps users to access photographs and videos round the clock. The app earns a substantial amount from the advertisements run on their platform, while users are paid as per the number of views. Regional language compatibility includes Hindi, Punjabi, Bengali, Tamil, and Gujarati.
This is Roposo’s second major investment in a span of two months. The first one, according to data from Crunchbase, was valued at Rs 120 crore from Bertelsmann India and Tech Circle Ventures.
The Gurgaon-based company is expected to use the recent funding to enhance talent acquisition and product technology along with a fair share of focus on audience expansion. Rohit Sood, principal at Bertelsmann, will join Roposo as a part of the deal. This strengthens the company’s guidance arsenal after the support of Flipkart co-founder Binny Bansal and India Quotient, a venture capital firm.
In the words of Mr Sood, “The company has scaled explosively over the past year but we are most excited about the management’s focus on the quality of user engagement on the platform.” This deal takes the total worth of investment bagged by Roposo to $31 million.
As Roposo looks forward to penetrate the small market base, IIT Delhi alumni and CEO of the company Mayank Bhangadia said, “Celebrating the cultural diversity of India, we’ve constantly brought in unique innovations and enabled a monthly active user base of 7.5 million. At this rate, we are set to grow exponentially in the coming six months.”
Considering the monthly revenue figures of the company, they earn approximately Rs 72 lakh with a community of 25 million people. Since the company’s inception in 2014 and change of domain in mid-2017, their daily user base has increased by roughly 75 times.