Rigi Funding: Rigi raises $12.3 million from Elevation Capital, MS Dhoni and others

Rigi has raised Rs 100 crore (US$12.3 million) in a funding spherical led by Elevation Capital. Accel India, Stellaris Enterprise Companions and Sequoia Capital additionally participated within the supplier of on-line content material broadcasting and mentoring platforms’ current funding spherical.

Rigi has additionally added new angel buyers to their cap chart.

These embody India’s former cricket captain Mahendra Singh DhoniFounder and CEO of Cred Kunal ShahAmit Kumar Agarwal, Founder and CEO of NoBroker, Chakradhar Gade, Founding father of Nation Delight, and Sharan Hegde, who creates content material for private finance.

The startup stated it plans to make use of the contemporary capital to increase abroad.

Bengaluru-based Rigi expanded its operations into Indonesia three months in the past, its first abroad market, founder and CEO Swapnil Saurav informed ET.

“We make a number of instruments for builders, so we’ll preserve investing in them. We may also proceed to spend money on the tech staff to develop extra instruments for various classes of creators…we imagine this resolution will be simply rolled out in Southeast Asian nations and different comparable areas,” Saurav added.

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Rigi has raised round $25 million in three rounds inside 14 months of its inception, most just lately elevating $10 million in a Collection A funding spherical co-led by acceleration India, Sequoia Capital India and Stellaris Enterprise Companions. The corporate employs 80 individuals at its places of work in India and Indonesia.

Based in 2021 by Birla Institute of Know-how and Science (BITS) Pilani alumni Saurav and Ananya Singhal, Rigi is to content material creators what Shopify is to sellers. Saurav and Singhal additionally beforehand based gaming and sports activities media firm Halaplay Applied sciences, which was acquired by Nazara Applied sciences in 2020.

Content material creators use Rigi to pay for WhatsApp and Telegram teams, deal with automated including and eradicating of members together with subscription reminders, create programs and studying guides and promote them on-line, host webinars with authenticated contributors, pay-to-view content material to create and different use instances .

Rigi bundles present these instruments for subscription administration, lessons, dwell workshops, paid one-to-one interplay, and integration with social platforms for content material creators with schooling, health, and gaming expertise throughout 30+ classes. Rigi stated it has served over 10,000 creators to this point.

“The expansion of Rigi in India is phenomenal. It is grown 40x over the previous 12 months based mostly on the overall worth of cash flowing by way of Rigi’s system from followers to creators,” Mayank Khanduja, companion at Elevation Capital, informed ET.

Elevation Capital has invested in over 150 firms throughout shopper web, software program as a service, fintech, shopper manufacturers, edtech, health-tech, internet 3.0 and crypto. It introduced its eighth capital pool of $670 million in April 2022. His earlier bets within the creator economic system embody Sharechat, Turnip and Headfone.

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