Metvy, an AI driven networking platform for individuals and organisations which aims to provide a seamless end to end networking experience, has raised an undisclosed pre-series round of funding from HostelFund.
Founded in 2018 by Shawrya Mehrota and Rajan Luthra, Metvy had earlier raised seed funding from an incubator backed by the government of Delhi.
The startup aims to make its app more meaningful and effective for networking and mentorship for the younger section of the population.
According to Metvy, the total market size for networking is around $269.4 billion while the addressable segment for them is around $13.4 billion. The founders believe that only a small percentage of mobile internet population use existing networking platforms giving them the opportunity to tap into the youth segment especially in the Tier II and beyond cities.
Commenting on the startup, Shawrya Mehrotra, said, “Networking with relevant professionals is a tedious, time-consuming task especially for youngsters. Metvy aims to dislodge the barrier of language in the sphere of professional networking, and expand its reach to communities of not only working professionals but students and educational institutes as well in order to embody efficient professional networking skills from the outset.”
Speaking about the investment, Ankur Jain, founder, HostelFund said, “Very few platforms or angels invest in young and passionate student startups. HostelFund, being one of its kind in India, truly believes that students should consider entrepreneurship as a first career choice.”
Metvy has plans to grow its active user base to 100,000 in the next 12 months. It will also look at incorporating advanced AI features for more intuitive networking and improve the user experience.
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