Paytm, Freshworks Founders Back Interest-Based Social Media Startup Pepul

Paytm, Freshworks Founders Back Interest-Based Social Media Startup Pepul

SUMMARY

Pepul is a personal interest-based social network that aims to ‘restrict anonymous users and negative content’

The platform only allows those users to create a profile who can prove their identity through real-time profile pictures.

Hourglass Venture Partners, Freshworks’ Girish Mathrubootham and Paytm’s Vijay Shekhar Sharma participated in this round of funding

Interest-based social media startup, Pepul has raised $1.5 Mn in seed funding from investors including Hourglass Venture Partners, Freshworks’ Girish Mathrubootham and Paytm’s Vijay Shekhar Sharma.

Founded in 2020 by Suresh Kumar G, the Chennai-based startup claims to be a privacy-first and interest-based social media network that restricts “anonymous users & negative content” on the platform. The platform only allows those users to create a profile who can prove their identity through real-time profile pictures.

Speaking on the fundraise, founder and CEO of Pepul, Suresh Kumar G said, “We are thankful to all the investors who have trusted us and our team and for backing this audacious vision of building a positive safest social network from India for the world. Their backing gives us more responsibility to do a great platform that touches millions of lives and make them proud”

The social media startup will use the funding for ramping up infrastructure, team expansion and increasing user count. The app, which is still in the beta phase, has been downloaded across 177 countries, the startup claimed. However, the startup’s current focus is to acquire users in India. 

A 2021 report by Smart Insights found wide variation in active social media penetration reaching 66% in Eastern Asia to 31% in Southern Asia. With a huge market yet to be explored, local companies are vying for the pie in this hugely competitive market, offering hyperlocal services and country-specific services.

In the same space, recently, Indian social media startup Zorro raised $3.2 Mn from 3one4 Capital and 9Unicorn Ventures. Mohalla Tech, the parent company of Sharechat and Moj, recently raised $266 Mn as part of its Series G round, valuing the company at $3.7 Bn. 

In the last two years, India has seen the launch of several social media startups catering to different content formats and user bases. The exit of TikTok led to the launch of many short-video apps like Chingari, Josh and Mitron. Sharechat and Moj too continue to garner greater traction with their parent company in talks to acquire MXTakaTak, another short video app. On the other hand, the desi Twitter alternative, Koo had raised $30 Mn in a Series B funding round led by Tiger Global in May last year.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Paytm, Freshworks Founders Back Interest-Based Social Media Startup Pepul-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Paytm, Freshworks Founders Back Interest-Based Social Media Startup Pepul-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Paytm, Freshworks Founders Back Interest-Based Social Media Startup Pepul-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Paytm, Freshworks Founders Back Interest-Based Social Media Startup Pepul-Inc42 Media
Paytm, Freshworks Founders Back Interest-Based Social Media Startup Pepul-Inc42 Media
You’re in Good company