Funding alert
- as ifStart Story | October 21, 2022
A pre-series fundraising round led by Kalari Capital raised $5 million in Mumbai for the celebrity engagement platform. The company has invested $2 million in the startup and has an option to give another $2.5 million in the future. Sujeet Kumar (Udaan.com), Redbrook Pte (Singapore) and Blume Founders Fund participated in the investment round.
According to the company, the funds raised will be used to improve the platform, add more celebrity and fan engagement opportunities, and generate more revenue for its user base of over 200,000 subscribers.
Akshay Sani, Rahul Sani and Pranav Chabhadia launched Trin, a celebrity engagement platform, in December 2019. It currently has 10,000+ celebrities and influencers.
The company offers customers the option to make every moment special with videos from their favorite celebrities, bridging the gap between fans and celebrities.
Commenting on the situation, Tring CEO and Founder Akshay Sani said, “We are striving to establish Tring as a one-stop shop for digital personal experiences from celebrities in India and soon, across Asia. We are delighted to have a trusted firm like Kalari Capital on this adventure with us. Kalari Capital strongly believes in the creative economy, so they are the perfect partner as we continue to rapidly expand across Asia in the coming quarters.
The company faces competition from global platforms such as Memo (Europe) and Cameo (US), which have experienced explosive growth and attracted users’ attention. It claims more than a million users frequent the website to engage with celebrities, and expects to soon reach more than 100,000 monthly revenue.
Commenting on the development, Kalari Vamshi Reddy said, “We are delighted to understand Akshay, Rahul and Pranav’s mission to grow the Indian celebrity fan engagement market.” The team has demonstrated exceptional execution skills and has deep knowledge of the industry opportunity.
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