TrueFan, a celebrity fan engagement platform founded by former Warburg Pincus executives, announced that it has raised $4.3 million in funding. The first round of funding was led by Ronnie Screwvala, Mayfield India, and Saama Capital, as per ETtech report.
For about Rs 50, users can play quizzes around their celebrities, and winners get a personalized video message or an interaction from their favourite stars.
“We are starting with Bollywood, where the top 5-10% own 90% of the market. We are curating these select celebrities and creating a content plus gaming platform for fans to connect with them…while offering the celebrity a channel for direct monetization on their brand by building fan community,” said Nimish Goel, co-Founder of TrueFan.
Founded in 2020 by Nimish Goel, Nevaid Aggarwal and Devender Bindal, TrueFan aims to connect fans with A-list celebrities in Bollywood, cricket and music through personalized, interactive experiences. TrueFan has a 30-member team.
Direct celebrity connect is an emerging sector in India, enabling fans — mainly from small towns and or middle-class income brackets — to engage with their dream stars at an affordable price.
“This is the perfect blend of gamification meets media meets content,” said Screwvala.
“The celebrity-fan engagement market in India has huge growth potential,” said Nikhil Khattau, Managing Director at Mayfield India.
Goel and Aggarwal’s move to entrepreneurship is also the latest example of venture capitalists moving to start businesses.
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