Explurger Secures 4.5 Mn Series A Funding Led by Affle The homegrown social media platform will use the fresh capital for future growth
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Social media platform Explurger today announced that it has raised an investment of 4.5 million (INR 37.3 Cr) in a Series-A funding led by Affle (India) Limited ("Affle") at a pre-money valuation of about USD 40 million (INR 338 Cr). With this investment, Affle (India) Limited will hold a 9.03% stake (on a fully diluted basis) of Explurger.
Launched in 2021 in India, Explurger has garnered more than 8.5 million users across 75+ countries. "With an AI-centered social media format, the app differentiates itself with features such as Automatic Travelogue, Rewards and Bucket List to cater to the distinctive needs of travelers and explorers. The company expects to target the growing social media users in India and the world, amidst a renewed interest in the travel segment in the post-pandemic world," the company said in a statement.
Speaking about the investment, Jitin Bhatia, founder & CEO of Explurger, said, "We're thrilled to welcome Affle on our cap table as part of Series-A funding round. Affle is already a leading name known for their tech innovations and R&D, and with them as an investor, it validates our vision to build a social media platform of the future that goes beyond likes and shares, and truly builds a global connected community using the advancements of AI. We look forward to the next phase of our growth story and are grateful for the confidence shown in us by the team at Affle."
Explurger is an AI-powered social media app for travelers, which offers features such as an Automatic Travelogue, a Bucket List, Rewards for being socially active and more. It claims to be the first social media app that uses the principles of Gamification encouraging users to stay longer on the app. Explurger is now backed by leading investors including Affle (India) Limited, India Discovery Fund (VC Fund), Jaipuria Family Office, Khimji Family Office (Oman), Action Group Family Office, Kajaria Tiles Family Office, Dhampur Sugar Mills Family Office, LetsVenture, and Lead Angels. The homegrown startup also has attracted investments from angel investors like Piyush Jain, Lovkesh Arora, among others.
