After pivoting from being a fashion discovery platform model to a generic video entertainment platform, Roposo has now received a needed financial dose to carry on the pivot. The startup has now announced, that it has secured $10 million in a new funding round, which was led by Tiger Global and Bertelsmann India Investments.
The newly infused capital will be used by the Gurugram-based startup to hire new talent for machine learning that will primarily focus on
In a statement, Roposo CEO and co-founder Mayank Bhangadia said:
We are growing at a phenomenal pace with our personalization engine that caters to different types of audiences simultaneously. Celebrating the cultural diversity of India, we’ve constantly brought in innovations and enabled a monthly active user base of 7.5 million. At this rate, we are set to grow exponentially in the coming six months.
Rohit Sood, Principal, Bertelsmann India Investments said,
The company has scaled explosively over the past year but we are most excited about the management’s focus on the quality of user engagement on the platform. We are confident that Roposo will soon be the leading video creation and consumption app for Bharath.
Roposo was founded in 2014 by Mayank Bhangadia, Avinash Saxena, and Kaushal Shubhank as a fashion discovery platform with a proprietary recommendation engine. In August 2017, the company pivoted to a short-video application and rebooted as ‘TV By The People’.
After pivoting to a social media platform model that curates content across categories such as food, travel, and fashion, it claims to have recorded 75X growth in its daily active user base.