Social media startup Roposo gets US$ 10 million in funding
Management and Bertelsmann India Investments, which it will leverage for product tech, talent acquisition and community expansion.
The company is founded by IIT Delhi alumni Mayank Bhangadia (also the CEO), Avinash Saxena and Kaushal Shubhan. Parent company Relevant E-Solutions Pvt. Ltd had secured Rs 120 crore from Tech Circle Ventures and Bertelsmann India last month itself and the latest investment takes its total funding to US$ 31 million so far.
Flipkart founder Binny Bansal and VC firm India Quotient are also backing Roposo. With this deal, Bertelsmann principal Rohit Sood will join Roposo’s board as a director. Roposo started as a platform for discovery for women’s and men’s fashion. Later in mid-2017, it evolved into a social media platform that curates content from various categories including food, travel and fashion.
The company provides a TV like interface where users can view videos and pictures from 24 channels and in various regional languages that include Punjabi, Gujarati, Tamil, Bengali and Hindi. It compensates content creators according to number of views received and also simultaneously earns from advertisements on the platform.
With a monthly revenue run rate of US$ 100,000, Roposo has developed a 25-million strong community so far.