Rigi, an online content broadcasting and mentoring platform provider, has raised $12.3 million in a funding round led by Elevation Capital, according to ETtech report.
Accel India, Stellaris Venture Partners and Sequoia Capital has also participated in the latest funding round.
Rigi has also added new angel investors to its cap table. These include India’s former cricket captain Mahendra Singh Dhoni, Cred founder and CEO Kunal Shah, NoBroker founder and CEO Amit Kumar Agarwal, Country Delight founder Chakradhar Gade, and personal finance content creator Sharan Hegde.
The startup said it planned to expand overseas using the fresh capital, a statement said.
“We are creating a lot of tools for creators so we will keep investing in them. We will also keep investing in the tech team so that we create more tools for different categories of creators… we feel this solution can be easily introduced to Southeast Asia countries and other similar geographies,” Saurav added.
Founded in 2021 by Birla Institute of Technology and Science (BITS) Pilani alumni Saurav and Ananya Singhal, Rigi is to content creators what Shopify is to sellers. Saurav and Singhal previously also founded gaming and sports media company Halaplay Technologies, which was acquired by Nazara Technologies in 2020.
“Rigi’s growth in India is phenomenal. It has grown 40X in the last 12 months, in terms of the total value of money flowing from followers to creators through Rigi’s system,” Mayank Khanduja, partner, Elevation Capital, said.
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