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Exclusive: Tiger Global-backed Kutumb enters gay dating space with Polo

EntrackrEntrackr · 24d ago
Exclusive: Tiger Global-backed Kutumb enters gay dating space with Polo
Medial

Bengaluru-based community platform Kutumb has expanded into the online dating space with the rollout of Polo, a dedicated gay dating application that is currently available on the Google Play Store. As per its Play Store listing, Polo offers features such as selfie-based profile verification, smart matchmaking, instant messaging, and audio and video calling. It also enables users to create private photo albums and use interest-based filters, including age and location. The company has not made a formal announcement regarding the launch. The availability of Polo comes as Kutumb continues to build consumer internet products beyond its core community-first social networking platform. Besides Polo, Kutumb operates several consumer applications across categories such as astrology, lifestyle, social, and utilities. These include Tarot99, Astro99, Digi God, Piku AI, Zuno, Zumo, and Digital Baby. In June 2021, Kutumb raised $26 million in a Series A funding round led by Tiger Global, with participation from Quiet Capital, Rocketship VC, Nirman Investments, AngelList Syndicate, and angel investors. For FY25, Kutumb’s revenue from operations increased 173% year-on-year to Rs 128.6 crore from Rs 47.2 crore in FY24. The firm reported a net profit of Rs 12 crore during the fiscal, compared to a loss of Rs 3 crore in FY24. As per sources, Polo is currently generating around Rs 5 crore in monthly revenue. Queries sent to Kutumb didn’t elicit any immediate response. Polo enters India’s LGBTQ+ dating market, where platforms such as Grindr, ROMEO, u2nite, HiMoon, and RainbowLuv are already active. The segment is smaller than mainstream dating apps but is growing steadily, mainly in urban areas. User safety, privacy, profile verification, and moderation are important, as concerns around fake accounts, harassment, and data security can directly affect user trust and retention.

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Peak XV-funded Kutumb turns profitable, enters Indicorn club

EntrackrEntrackr · 23d ago
Peak XV-funded Kutumb turns profitable, enters Indicorn club
Medial

Kutumb, the parent company of social media app Crafto, delivered strong financial performance in the fiscal year ended March 2025, as its operating scale jumped 2.7X, primarily due to higher subscription revenue from Crafto. The Tiger Global-backed company also turned profitable in FY25. Kutumb’s revenue from operations spiked 173% year-on-year to Rs 128.6 crore in FY25 from Rs 47.2 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC). Founded in 2020, Kutumb is a multilingual community social platform. It operates apps across social, astrology, lifestyle, and utility categories, including Crafto, Zuno, Tarot99, Astro99, Digi God, Piku, and Digital Baby. The company generates revenue through subscriptions to its social media enabler apps, along with advertising services offered on its platforms. According to filings, the firm’s 173% revenue growth was largely attributed to a sharp increase in subscription income from its app, Crafto. For the uninitiated, Crafto lets users create and share personalised quotes and wishes in regional languages across social apps including WhatsApp. Kutumb also earned Rs 18 crore from non-operating sources such as interest income, and this pushed its total income to Rs 146.7 crore in FY25. For the company, advertising and promotional expenses were the largest cost centers. They accounted for over 62% of total costs and stood at Rs 84.6 crore, with a 2.8X year-on-year increase from FY24. Employee benefit expenses also rose 2.4X to Rs 27.7 crore in the last fiscal year. Notably, this included Rs 11.63 crore toward ESOP and ESPP expenses, which are non-cash in nature. Kutumb’s expenditure on technology infrastructure also increased by 15% to Rs 18 crore. Overall expenditure for the Bengaluru-based firm doubled to Rs 135.8 crore in FY25 from Rs 63 crore in FY24. Revenue growth outpaced expenses and helped Kutumb attain Indicorn status. The firm posted a net profit of Rs 12 crore, compared to a loss of Rs 3 crore in FY24. For background, Indicorn is a term coined by Titan Capital for profitable Indian startups with over Rs 100 crore in annual revenue. Its ROCE and EBITDA margin also improved to -3.77% and -5.54%, respectively. On a unit level, Kutumb spent Rs 1.06 to earn one rupee of operating revenue in FY25. As of March 2025, the Tiger Global-backed company’s current assets stood at Rs 150.5 crore, which included Rs 10.5 crore in cash and bank balances. Kutumb has raised around $28.5 million in funding to date from investors such as Quiet Capital, Peak XV Partners, and Rocketship.vc, among others. The company secured a valuation of approximately $170 million after raising $26 million in its Series A round in June 2021. Recently, it expanded into online dating with the launch of Polo, a dedicated gay dating app.

Exclusive: Spinny in talks to mop up over $100 Mn in internal round

EntrackrEntrackr · 1y ago
Exclusive: Spinny in talks to mop up over $100 Mn in internal round
Medial

Exclusive: Spinny in talks to mop up over $100 Mn in internal round Tiger Global-backed Spinny is in talks to raise over $100 million in a new round mostly financed by existing investors, said three sources aware of the contours of the deal. Used car platform Spinny is preparing for a new round almost after a gap of over three years. The Tiger Global-backed company is in talks to raise over $100 million in a new round mostly financed by existing investors, said three sources aware of the contours of the deal. “Spinny could raise up to $120 million from internal investors including Elevation Capital, Abu Dhabi Growth Fund, General Catalyst and Accel among others,” said one of the sources on condition of anonymity. Sources assert that the talks are in an early stage and it may take a quarter to materialize. If the deal gets through, Spinny would be the first used car platform to raise a new round since late 2021. As per sources, its valuation more or less remains unchanged in the potential round. Market analysts point out that Spinny has emerged as a clear leader with a large delta in the used car retail space as the company appears to have cracked demand first transaction model. It has achieved this on the back of one of the lowest consumer acquisition costs and better gross margin. The Gurugram-based company also scaling auction-based verticals for dealers and car-financing businesses. Most of the money from the new round is likely to be deployed to grow the lending biz, said sources. “Spinny sells close to 7,000 cars every month with an average transaction size of around 6 lakhs. It also sells around 5000 more cars every month on its B2B auction platform,” said the source mentioned above. Queries sent to Spinny, Accel, Elevation and General Catalyst did not elicit an immediate response. According to startup data intelligence platform TheKredible, Spinny has raised around $500 million to date. Tiger Global and Accel are its largest stakeholders with 14.25% and 13.25% holding respectively. For the fiscal year ended in March 2024, Spinny’s revenue from operations increased to Rs 3,725.02 crore from Rs 3,259.78 crore in FY23​. During the period, its losses reduced by 28% to Rs 590.37 crore.

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