Homegrown social media platform for travellers Explurger has raised $4.5 million in a Series A funding round led by Affle (India) Limited, at a pre-money valuation of about $40 million, according to ETtech report.
With this investment, Affle’s stake in the company now stands at 9.03%, the company said in a statement.
The freshly acquired funds are earmarked for scaling up future growth initiatives and fostering community development through the integration of newer technologies such as artificial intelligence, the company said.
“We’re thrilled to welcome Affle on our cap table as part of Series A funding round,” said Jitin Bhatia, founder & CEO of Explurger. “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.”
Launched in 2021, Explurger is an AI-powered social media platform tailored for travellers. Its offerings include automatic travelogue and rewards for active participation on the platform.
In 2021, the company had raised $1 million in a pre-Series A round from a group of investors.
Apart from Affle (India), Explurger boasts support from a diverse group of investors, including India Discovery Fund, Jaipuria Family Office, Khimji Family Office, Action Group Family Office, Kajaria Tiles Family Office, Dhampur Sugar Mills Family Office, LetsVenture and Lead Angels.
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