Tring, India’s largest celebrity engagement platform, has grown 30x in revenues with over 100x growth in user traffic since its last capital raise.
Launched in 2020, Tring has quickly become the category leader in the space of digital interactions, with over 12,000 celebrities connecting with their fans through personalised celebrity video messages (shoutouts), direct message on social media, video calls, merchandise, brand video endorsements and more, the statement said.
Continuing the growth momentum, Tring is closing its Pre-Series A round of USD 5 Mn led by Kalaari Capital, which invested USD 2 Mn and has the option to invest further 2.5 Mn in a new tranche at a later date. The round also saw participation from Blume Founders fund, REDBROOK PTE. (Singapore) and Sujeet Kumar (Udaan.com).
Co-founded by Akshay Saini, Rahul Saini and Pranav Chabhadia, the company claims to have over a million people visiting the website to interact with celebrities, and is on the path to 1,00,000+ paid transactions monthly. Tring will use the new funds for improving the product and to introduce other forms of celebrity-fan engagement, with a sharp focus on further monetizing its customer base of over 2,00,000 customers.
Vamshi Reddy, Partner at Kalaari says, “We are thrilled to back Akshay, Rahul and Pranav in their journey to disrupt the celebrity fan engagement space in India. The team has shown strong executional capabilities and bring deep understanding of the market opportunity. We are confident in their ability to build a leading fan engagement platform from India and we are proud to welcome them to the Kalaari family.”
CEO Akshay Saini says, “India is a huge market for celebrity engagement services with users demonstrating high fandom levels. We are working to make Tring the one-stop marketplace for all digital personalised interactions with celebrities in India and soon Asia. We are delighted to have robust institutions like Kalaari Capital joining us on this journey. Kalaari Capital’s strong belief in the creator economy makes them the ideal partners while we continue growing rapidly across Asia over the next few quarters.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.