Kofluence raises $4 mn in funding led by Zerodha cofounder, others

Social media marketing platform Kofluence on Tuesday said it has raised $4 million (Rs 30 crore) in pre-series A funding round led by Nikhil Kamath, cofounder of Zerodha and True Beacon.

The round also included other investors like Kunal Shah (Founder, CRED), Karan Johar (Filmmaker & TV Personality), Apoorva Mehta (CEO, Dharma Productions), Sujeet Kumar (Co-Founder, Udaan), Aprameya Radhakrishna (Co-Founder, Koo), Upsparks (Micro VC), and Kiran Gadela & Abhijeet Pai (Renowned investors).

Announcing the fundraise, Kofluence’s co-founder Sreeram Reddy Vanga tweeted, “A huge round of thanks to our colleagues, investors, brands and the creator community who have supported the Kofluence vision."

 

According to the company this will help them strengthen its position as pioneers & trailblazers in the Indian Influencer Marketing landscape.

"Constant alignment/realignment with the market has helped us find the best product-market fit and therefore not only survive but thrive over the last several years. We have a lot of exciting developments in the pipeline to support the creator economy and with the current round, we are excited to fire on all cylinders in an aggressive manner." says Ritesh Ujjwal, CEO and cofounder, Kofluence.

Vanga added, “We pride on what we have built over the last couple of years and we intend on generating multiple product revenue streams out of our AI-led proprietary platform, as a part of our future growth.”

“Content creators have long been relied on to capture eyeballs through free user-generated content. With Kofluence expanding its product suite to encompass creation and monetization tools, creators on the platform will have varied monetization avenues to explore,” said Nikhil Kamath.

Founded in 2019, Kofluence provides a data driven AI-led platform with a vision to democratise the Creators’ economy landscape in India. The ad-tech platform provides a collective reach of over 1.6 billion through its creator ecosystem.

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