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Bengaluru-Based Flytant Raised Seed Round From Shuru-Up

StartupTalkyStartupTalky · 1y ago
Bengaluru-Based Flytant Raised Seed Round From Shuru-Up
Medial

Flytant, the Bengaluru-based Influencer Marketplace, has secured seed funding led by digital investment platform Shuru-Up. The funding will support the development of Flytant's technologies as it aims to revolutionize the influencer marketing industry. With over 600,000 registered influencers and 1800 brands globally, Flytant has quickly become a major player in the market. Founder Vivek Rai plans to expand the platform's reach and become the largest influencer marketplace globally by the end of the year. Flytant's unique offerings include scalability and a commission-free model for brands to connect directly with influencers. The company aims to launch Flytant Ads in the second half of the year, enabling influencers to access sponsorships more seamlessly.

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Bengaluru-based influencer marketplace Flytant raises funding from ShuruUp

IndianStartupNewsIndianStartupNews · 1y ago
Bengaluru-based influencer marketplace Flytant raises funding from ShuruUp
Medial

Flytant, a Bengaluru-based influencer marketplace, has secured an undisclosed amount of funding from ShuruUp. The company plans to utilize the investment to develop advanced technologies, enhance its flagship products, and solidify its position as a key player in the influencer marketing industry. Flytant, which already boasts over 600,000 registered influencers and partnerships with more than 1,800 brands worldwide, aims to expand into the US and MENA regions. It is focused on democratizing influencer marketing by directly connecting brands with influencers and simplifying the collaboration process. Flytant is set to launch Flytant Ads, a tool that will facilitate direct connections between brands and influencers.

Krafton leads Rs 29 Cr round in Shuru at Rs 135 Cr valuation

EntrackrEntrackr · 1m ago
Krafton leads Rs 29 Cr round in Shuru at Rs 135 Cr valuation
Medial

For the fiscal year ending in March 2024, Shuru reported Rs 26.84 lakh in revenue and Rs 3.31 crore in losses. It has yet to file its FY25 financials. Shuru, a location-based social networking platform, has raised Rs 29 crore in a fresh funding round, sources aware of the development told Entrackr. South Korean gaming major Krafton has acquired around 16% stake by investing Rs 21 crore in Shuru, according to sources cited above. Founded in 2021 by Mayank Bhangadia and Harsh Chhabra, Shuru has expanded its presence, reaching over 2 million active users across more than 600 cities and 8,000 sub-districts. The platform enables real-time engagement, civic participation, and support for local businesses, with the goal of connecting citizens to their neighborhoods. While Shuru had previously secured backing from investors such as Omidyar Network India, Titan Capital’s Kunal Bahl and Rohit Bansal, Eximius Ventures, and Shastra VC, the investment from Krafton is expected to support its next phase of growth and scaling. Shuru’s regulatory filing with MCA also shows that it is raising Rs 29 crore from Krafton, Omidyar Network, and Eximius Trust. As per Entrackr’s estimates, the firm will be valued at around Rs 135 crore (post money). For the fiscal year ending in March 2024, Shuru reported Rs 26.84 lakh in revenue and Rs 3.31 crore in losses. It has yet to file its FY25 financials. Krafton's interest in Shuru is part of its strategy to invest in Indian startups, reflected in its recent plans to invest over $200 million in the country's gaming and digital sectors. In August 2023, BGMI-maker Krafton committed to invest $150 million in India over the next two to three years. Some of its notable bets include Kuku FM, Cashfree, One Impression, Bobble AI, Pratilipi, and Nautilus, among others.

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