This marks a16z’s second funding in India, following its wager on cryptocurrency buying and selling startup Coinswitch Kuber in October 2021.
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Based in June 2021 by Karata Dasmahapatra, Shivanshu Tyagi and Sambhav Jain, Plutus facilitates interactions between content material creators and their followers by means of dwell and informal group video games. The platform options dwell rooms, group chats, and creator-led video games, built-in funds, and analytics, working on a pay-as-you-go mannequin.
Previous to this spherical, in March 2023, Plutus raised $280,000 in a pre-seed funding spherical led by student-focused enterprise capital agency Campus Fund, alongside different buyers comparable to CIIE IIM Ahmedabad, Shruti, cofounder of ApnaKlub and Alagu Periyannan, founding father of Bluejeans.
“Solely 2% of essentially the most well-known creators make unimaginable dwelling and there’s 98% of the creators which do it as a aspect pastime as a result of it isn’t capable of generate the form of cash it might must maintain one’s life,” Richa Bajpai, founding father of Campus Fund advised ET whereas discussing the funding.
“Plutus offers them with an infrastructure by means of which they’ll higher interact with their followers and within the technique of that additionally be capable of gamify it in order that it is useful each for the creator in addition to for the followers,” she added.
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Plutus is at present in discussions with one other main enterprise capital agency for its upcoming Sequence A funding spherical, with particulars anticipated to be disclosed quickly, in line with Bajpai.
